CRH has declined to comment on reports that it is in advanced discussions to sell its European distribution arm to US investment firm, Blackstone, for €1.7bn.
Dublin-based CRH put the entire unit under review last year as part of a plan to streamline its operations and boost growth.
While the whole group saw its core earnings rise by 7% to €3.3 billion last year, the European distribution business was underperforming, with core earnings down 1%.
According to the Bloomberg report, a deal could be announced as early as this week.
However, a spokesman for CRH said the group would not comment on speculation.
The company's shares closed down 0.81% on the Euronext Dublin exchange, but were up 0.4% this evening on the New York Stock Exchange.
Earlier this year, Cevian Capital, an activist investor, revealed it had built a sizeable stake in CRH.
