Business
Boral hits go on US asset sales, offloads USG Boral stake – The Australian Financial Review
Chief executive Zlatko Todorcevski says there won’t be any ‘fire sale’ of US building products assets, but a formal process will begin next year.
The preference was for a sale of the entire building products portfolio rather than a piecemeal approach. Boral did not want potential buyers to “pick the eyes out that portfolio”.
But there had been robust interest. “I will say there has been quite strong interest,” he said.
Boral suffered six profit downgrades over two years and returns dragged after a big United States foray by former chief executive Mike Kane, who spent $3.5 billion buying the Headwaters business in the US in late 2016.
Mr…
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