Some analysts value Uniland at EUR1.2bn based on CRH’s recent purchase, but other market observers have said Uniland shareholders see it valued closer to EUR1.5bn-plus. Uniland wasn’t immediately available for comment.
Last February Uniland said CRH’s 26.3 per cent, Euro300m purchase was "unlawful" and presented a writ in the Barcelona Commercial Court to force CRH to relinquish more than a quarter of Uniland’s shares. The statement issued on behalf of the board of Uniland said CRH contravened the pre-emption rights of the company and of its other shareholders, and damaged its independence. The CRH spokesman said the case is due to be heard in Barcelona in September, but there will be preliminary hearings before that.