Fletcher Building Completes Sale of Tradelink to Metal Manufactures for AU$170 Million

MT Newswires Live

Oct 01, 2024

Fletcher Building (NZE:FBU, ASX:FBU) completed the sale of its Australian plumbing supplies and distribution business, Tradelink, to Metal Manufactures for AU$170 million, according to a Tuesday filing with the New Zealand bourse.

The sale price comprises a AU$160 million cash payment on settlement, with the remaining AU$10 million cash payment based on separation milestones expected to take up to two years and be completed by September 2026, the filing stated.

Fletcher Building shares fell past 2% on the New Zealand Exchange in early Tuesday trade.

Price (AUD): $2.88, Change: $-0.07, Percent Change: -2.37%

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