CRH not to raise Mashav stake

Israeli holding company Clal Industries and Investments Ltd said on Sunday Ireland’s CRH would not buy an additional 25 per cent stake in its subsidiary Mashav after talks ended.

CRH already owns 25 per cent of Mashav and had an option to buy another 25 per cent. In December Clal, which owns 75 per cent of Mashav,  said it was in talks with CRH to sell 25 per cent. Mashav’s holdings include Nesher, Israel’s cement monopoly.