Blackstone Group completed the acquisition of the Europe Distribution business of CRH, an international group of diversified building materials businesses, for €1.64bn. "The transaction announced today demonstrates the continued execution of CRH's strategy of creating value for our shareholders through active portfolio management, the efficient allocation of capital and creating a simpler and more focused Group going forward. We wish our colleagues in Europe Distribution every success as they enter this new phase of their development," Albert Manifold, CRH CEO.