Fletcher Building's Sale of Construction Division to VINCI Construction Becomes Unconditional

MT Newswires Live

May 22

Fletcher Building (ASX:FBU, NZE:FBU) said the sale of its construction division to VINCI Construction, the construction arm of the VINCI Group, has become unconditional, with completion of the transaction expected on May 29, according to a Friday filing with the Australian and New Zealand bourses.

The deal value increased to about NZ$334 million from NZ$315.6 million, subject to working capital and net debt adjustments, after Higgins Contractors secured the East Waikato, Bay of Plenty, and Hawke's Bay integrated delivery contracts, the filing added.

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