Building product company CSR looking to sell Viridian

Company News

by Rachael Jones

Building product company CSR (ASX:CSR) is looking to sell its Viridian Glass business to Crescent Capital Partners for a total cash consideration of approximately $155 million.

This transaction includes the Viridian property site at Dandenong in Victoria.

Viridian operates the only float glass manufacturing line in Australia and New Zealand as well as downstream glass processing operations.

Completion of the sale is expected on 31 January 2019.

Shares in CSR (ASX:CSR) are trading flat at $2.96. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.