Boral agrees to sell Midland Brick

Company News

by Rachael Jones

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.
 

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.