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Boral Agrees to Sell its US Meridian Brick Joint Venture

18 Dec 2020  |  15:48:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Boral agrees to sell its US Meridian Brick Joint Venture

Boral announced on 18th December 2020 that together with its joint venture partner, an affiliate of Lone Star Funds it has agreed to sell the North American based Meridian Brick business to Wienerberger for US$250 million, subject to customary adjustments. This equates to US$125 million for Boral's 50% share, subject to customary adjustments. Subject to exchange rates and final adjustments Boral expects to report a small pre-tax accounting profit on sale of A$10 million at closing. The transaction is subject to various closing conditions and regulatory approvals. The parties are targeting a completion in FY2021.

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