It is rumoured that CRH is planning the sale of its Oldcastle Building Envelope unit for more than $3bn. This implies that the business is valued at at least 11x EV/EBITDA which is just slightly above our estimate and, hence, it will have a limited positive impact on the NAV. This deal would drive CRH’s portfolio more towards heavy-side materials. Proceeds from the deal may be used for further acquisitions in the Americas Materials segment or for higher shareholder remuneration.