Fletcher Building sells Tradelink to Metal Manufactures for A$170M, aiding debt repayment.
Fletcher Building, a NZ construction firm, sold its Australian plumbing supplies business Tradelink for A$170M to US-based Blackfriars Corp's subsidiary, Metal Manufactures. The sale will help repay debt and is part of Fletcher Building's strategic focus. The transaction involves a A$160M cash payment and A$10M deferred payment. The separation process is expected to be completed by September 2026.
August 11, 2024
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