3 days ago
Fletcher Building selloff generating interest, company says
In a brief statement to the NZX, Fletcher said its review was creating interest (file image).
Photo:
RNZ / Cole Eastham-Farrelly
Potential buyers are lining up to buy Fletcher Building businesses.
New chief executive Andrew Reding initiated the review as the company sought to
improve its financial performance.
In a brief statement to the NZX, the company said its review was creating interest.
"Fletcher Building advises that, following the announcement of the strategic review, it has received ongoing inbound inquiries from parties interested in its businesses, including the construction division, amongst others.
"The company advises that no decisions have been made to sell any of its businesses."
It said it would give more details at an investor day later in the month.
The construction division has been a source of major losses for the Fletcher group, and is at the centre of
a $330m lawsuit by casino company SkyCity Entertainment
over delays in completing the build of the International Convention Centre in Auckland.
The company has previously signalled that it would look at its residential business, and
last year sold Australian assets
.
It has also restructured its operations by abolishing specific Australian operations and bringing them into unified trans-Tasman units.
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