Boral (ASX:BLD) has entered into an agreement with a Western Australian consortium to sell its Midland Brick business.
The sale includes 800 hectares of associated landholdings, for $86 million, subject to customary completion adjustments.
The Western Australian consortium consists of Linc Property, Birchmead and Fini Group.
The transaction is expected to complete by the end of this calendar year, and is subject to a number of customary pre-closing conditions including third party consents.
Shares in Boral (ASX:BLD) closed flat yesterday at $4.98.