China expansion

Building materials group CRH has signed a letter of intent to acquire an interest in the cement operations of China’s Jilin Yatai Group. No financial details have been disclosed. The deal provides for the initial purchase by CRH of a 26% equity stake in Yatai Cement with an option to acquire further shares after three years up to a maximum of 49%. The Jilin Yatai Group is listed on the Shanghai Stock Exchange and Yatai Cement is one of the ten largest cement groups in China.