Building materials giant CRH has reached a deal to sell its clay and concrete business in the UK and its clay business in the US for £414m (€522m).
The deal with Bain Capital Europe is expected to be completed in the first half of 2015 - subject to regulatory approvals.
The two businesses generated profits of about £16m in 2013 with gross assets at the end of 2013 of £300m.
As part of the deal, Bain will assume certain debt and pension liabilities from the businesses and so CRH is expected to make a profit of about £295m from the deal.
The company said that all the proceeds from the sale will be used for general corporate purposes.
