(C) Reuters. FILE PHOTO: The logo of Boral Ltd, Australia’s biggest supplier of construction materials and building products, adorns a wall in the foyer of their Sydney headquarters in Australia, November 21, 2016. REUTERS/David Gray
The announcement came in a disclosure in response to a bid by Seven Group Holdings in May to buy all the shares in Boral it did not already own for A$6.50 apiece, valuing the construction materials maker at A$7.91 billion ($5.9 billion).
Following the sale of the North American business, Boral said its net debt target would fall from A$1.5 billion to A$1.3 billion.
($1 = 1.3330 Australian dollars)
Boral to sell American building products business for $2.2 billion
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