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Company News Summary

Boral Completes Sale of 50% Share in USG Boral and Announces On-Market Buy-Back

01 Apr 2021  |  08:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Sale of USG Boral and intended on-market buy-back

Boral announced the completion of the sale of its 50% share in the USG Boral JV to Gebr Knauf KG (Knauf) for US$1.015bn (A$1.33bn at current exchange rates) and its intention to undertake an on-market share buy-back. It has decided to undertake an on-market share buy-back. Subject to prevailing share price and market conditions, it intends to buy back up to 10% of shares on issue, or 122m shares, over the next 12 months. The buy-back will be fully funded from sale proceeds.

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