⁍ Australia’s Boral Ltd said it will sell its 50% stake in joint venture USG Boral for $1.02 billion.
⁍ USG Boral is the company’s joint venture with Germany-based Gebr Knauf KG.
⁍ Australia’s largest building materials supplier added it is also assessing opportunities for divestment of its North American building products businesses.
– Australia’s Boral is selling its 50% stake in USG Boral to Gebr Knauf for $1.04 billion, Reuters reports. According to the Wall Street Journal, USG Boral is a joint venture between Boral and Gebr Knauf that produces plasterboard in Australia, New Zealand, Asia, and the Middle East. “The sale of Boral’s interest in USG Boral to Knauf will be a step to simplifying Boral’s geographic footprint and product portfolio,” Boral CEO Zlatko Todorcevski says in a statement. The sale is expected to close in 2021.
Source: https://www.reuters.com/article/boral-divestment-int/australias-boral-to-sell-stake-in-usg-boral-explore-sale-of-north-american-businesses-idUSKBN27B2MV