Sale of 13.4% stake in Puhoi to Warkworth toll road

Fletcher Building announces the completion of the sale of its 13.4% stake in the NX2 Pūhoi to Warkworth toll road public-private partnership (PPP) vehicle for NZ$20.2 million (inclusive of a pre-completion dividend) to a New Zealand-based infrastructure investor.

The transaction marks the conclusion of Fletcher Building’s equity investment in the NX2 vehicle, which the company has held since 2016.

Fletcher Building Managing Director and Chief Executive Officer Andrew Reding said: “With the sale of our NX2 stake, we have now concluded our equity exposure to both the Pūhoi to Warkworth toll road and PPP investments more generally. This move reflects our ongoing focus on simplifying our portfolio and concentrating on our core manufacturing and distribution competencies.”

ENDS

Authorised for release to the market by Haydn Wong, Company Secretary.

For further information please contact:

INVESTORS Alex MacDonald, GM Corporate Finance & Investor Relations +64 21 221 4266 [email protected]
MEDIA Christian May, Chief Corporate Affairs Officer +64 21 305 398 [email protected]

For information on Fletcher Building visit fletcherbuilding.com

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Announcement PDF