Fletcher completes Fiji sale

Acting Fletcher CEO Nick Traber is pleased at the transaction's completition. (Image: NZME)

Wed, 31 Jul 2024

Fletcher Building says it has completed the sale of 50% of its Fiji construction for $20 million with a non-cash impairment of $15m to be recorded on its financial statements.The sale to the Fiji National Provident Fund and Fijian Holdings was previously announced on June 19.Consistent with that disclosure, the transaction values the Fiji business, comprising Fletcher Construction and Higgins branded operations, at approximately $40 million.Acting chief executive Nick Traber said: “We are pleased to conclude this transaction in Fiji with...

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