Forterra plc - Legacy shareholder sells remaining holding

Davy Research
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One of the perceived barriers to the Forterra investment case was the overhang relating to the shareholding of its legacy owner. This overhang has now been fully eliminated with the sale of Lone Star’s circa 52.5% shareholding. At a single-digit P/E multiple and with a prospective dividend yield of over 4%, Forterra is very cheap in a European building materials context.