CRH gets US regulatory approval for Ash Grove acquisition

Building materials group CRH said on Friday that it has received regulatory approval for its $3.5bn acquisition of Kansas-based cement manufacturer Ash Grove.

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The deal, which was announced in September 2017, has been approved by the US Federal Trade Commission and there are no further regulatory approvals outstanding.

The transaction is expected to close in June 2018.

CRH chief executive Albert Manifold said at the time the acquisition was announced: "Ash Grove is an excellent addition to CRH's portfolio of businesses across North America as we seek to deploy our capital into high quality businesses that enhance our global asset base and provide opportunities to create shareholder value. We welcome the Ash Grove team to CRH and look forward to further developing our longstanding relationship as part of one company."

Ash Grove operates eight cement plants across eight US states, combined with extensive ready-mixed concrete, aggregates and associated logistics assets across the US Midwest.