Kingspan has received approval from regulatory authorities in Germany, Holland and Ireland for its proposed acquisition of CRH's European insulation business.

The building group said as a result it had completed the acquisition of the European polyisocyanuarate business, and the Dutch expanded polystyrene and roofing elements business of CRH Insulation Europe.

It expects to finish the purchase of the remaining businesses at the end of the first quarter.

Cavan-based Kingspan, which develops and manufactures insulation panels, raised floors and other energy-saving building products, said in November it planned to buy the European insulation business for €120 million.

At the time, the group said this would reinforce its position as Europe's number one provider of non-fribrous insulation and give it a wider platform for growth. The purchase will have a neutral impact on earnings this yearand the group expects it to boost earnings in 2012.