Boral complete sale of Meridian Brick

Wienerberger acquire North American joint-venture brick business for US$250 million

BORAL Ltd have completed the sale of their 50%-owned Meridian Brick business in North America to General Shale, the North American subsidiary of Austrian-based Wienerberger AG, for US$250 million (Boral’s share being US$125 million), effective 6 October 2021.

Boral, who are seeking shareholder approval at their AGM on 28 October 2021 to return up to A$3 billion of surplus capital to shareholders, say the proceeds from the divestment will add to surplus capital from other recent divestments.