The divestment begins? Fletcher Building gets $20m for Higgins and Fletcher-branded firms in Fiji

Jarden analysts say Fletcher could divest its Australian and NZ housing businesses to focus on its core including building supplies. (Image: Fletcher Building)

Rebecca Stevenson

Wed, 19 Jun 2024

Fletcher Building will sell its half-stake in its Fiji construction business for about $20 million. The company said on Wednesday morning it would sell its share of the Higgins and Fletcher-branded businesses to Fiji National Provident Fund and Fijian Holdings.It would also record a non-cash impairment on the Fiji business of about $15m. Completion of the transaction should occur in late June or early July 2024, conditional on receipt of Fijian regulatory approvals, the company said. Fletcher Building acting chief executive Nick...

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