05:26 AM EDT, 06/14/2024 (MT Newswires) -- CRH (CRH) said Friday that Adbri's independent shareholders have approved a plan through which it will acquire a majority stake in Adbri for 1.1 billion Australian dollars ($727.3 million).

The plan received court approval on Friday. The deal has already secured regulatory approval and is expected to close on July 1, 2024.

Under the deal, CRH will acquire the 57% of the ordinary shares of Adbri not owned by the founding Barro family for AU$3.20 Australian dollars per share. The deal values the Australian building materials company at AU$2.1 billion.

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