India/Ireland: Following earlier speculation, Ireland's Cement Roadstone Holdings (CRH) has announced that its 50:50 Joint Venture in India, My Home Industries Ltd has reached an agreement to acquire the shares of Sree Jayajothi Cements, a 3.2Mt/yr cement producer in south India for a value of Euro175m.
Dow Jones reports that the investment will be financed from My Home Industries' existing debt capacity and by equity inputs from the joint shareholders (Euro70m). CRH's equity interest will amount to Euro35m.