USG Boral ANZ proposed to become 100% Boral owned

USG Boral Australia and New Zealand proposed to become 100% Boral-owned

Boral Limited (Boral) and Gebr. Knauf KG (Knauf), the shareholder companies of USG Boral, have entered into definitive transaction documents to combine the Asian operations of USG Boral and Knauf Gypsum into a new 50:50 joint venture to be named USG Boral Building Products.

This expanded plasterboard joint venture is not inclusive of USG Boral Australia and New Zealand, which will return to 100 per cent Boral-ownership, operating independently from USG Boral Asia. Boral will continue to have access to USG intellectual property, with the Australia and New Zealand businesses retaining the USG Boral brand and continuing to sell the successful Sheetrock® products.

Subject to customary closing conditions and obtaining regulatory approvals, the transaction is expected to be finalised near the end of calendar year 2019.

Boral has agreed to grant Knauf a call option to purchase 50% of the USG Boral Australia and New Zealand business within five years. The grant and exercise of that call option will be subject to Australian and New Zealand regulatory approvals.

The USG Boral Australia and New Zealand businesses continue to commit to Boral’s vision to be a leading regional provider of gypsum-based building materials, providing customers with innovative solutions specific to project needs.

 

For media queries, please contact:

Simone Esamie or Roberta Marcroft, Write Away Communication

+61 2 9978 1400, simone@writeaway.com.au, roberta@writeaway.com.au