Fletcher trims $12 mln from slimmed down Higgins acquisition

Fri, 29 Jul 2016

By Paul McBeth July 29 (BusinessDesk) - Fletcher Building paid $12 million below the flagged purchase price to buy rival construction company Higgins Group Holdings after dropping Horokiwi Quarries from its application to reduce its dominance in the aggregates market. The Auckland-based company today completed its acquisition for $303 million, adding Higgins' roading units in New Zealand and Fiji, and the firm's aggregates businesses excluding Horokiwi, Fletcher said in a statement. The construction group had initially planned to pay $315...

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