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Fletcher Building (ASX:FBU, NZE:FBU) said it has completed the sale of its Construction Division to VINCI Construction, the construction arm of the VINCI Group, according to a Friday Australia and New Zealand bourse filing.The company's shares rose 2% in recent Friday trade.
Fletcher Building (ASX:FBU, NZE:FBU) said the sale of its construction division to VINCI Construction, the construction arm of the VINCI Group, has become unconditional, with completion of the transaction expected on May 29, according to a Friday filing with the Australian and New Zealand bourses.The deal value increased to about NZ$334 million from NZ$315.6 million, subject to working capital and net debt adjustments, after Higgins Contractors secured the East Waikato, Bay of Plenty, and Hawke's Bay integrated delivery contracts, the filing added.
New Zealand shares ended lower on Thursday amid a broad-based decline in Asian shares as inflation fears impacted US Treasury bonds.The S&P/NZX 50 Index fell 0.46% or 60.06 points to close at 12,965.01.The US Treasury two-year yield rose to 4.07%, and the 10-year yield rose 4.5% amid investors' expectations of an upcoming Federal Reserve rate hike as inflation pressures rise.In domestic news, petrol and diesel prices in New Zealand increased by nearly 13% and 37%, respectively, in April compared with the previous month, according to a Stats NZ selected price indexes report.Also, New Zealand's manufacturing sector showed only marginal growth in April, as weakening demand and production pointed to a clear slowdown amid rising global uncertainty and softer business conditions, BusinessNZ said.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) entered into an unconditional agreement to sell its surplus Iplex Australia industrial property in Elizabeth for AU$20.1 million to an industrial property investor.Meridian Energy (ASX:MEZ, NZE:MEL) secured approval to develop the Bunnythorpe Energy Park in Manawatu in New Zealand's North Island, featuring a 120-megawatt (MW) solar farm alongside a previously approved battery energy storage system.
Fletcher Building (ASX:FBU, NZE:FBU) entered into an unconditional agreement to sell its surplus Iplex Australia industrial property in Elizabeth for AU$20.1 million to an industrial property investor, according to a Friday filing with the Australian and New Zealand bourses.Iplex Australia will lease the site for up to 12 months after completion to facilitate the removal of its operations, per the filing.The transaction is anticipated to close in June, with the payment structured in two installments, the first upon completion and the second in the first quarter of fiscal 2027, the filing said.The company expects to record an estimated fiscal 2026 earnings before interest and taxes gain of around AU$10 million from the sale, after accounting for sale-related, rationalization, lease, remediation, and restructuring costs, the filing added.
Fletcher Building (ASX:FBU, NZE:FBU) said that its subsidiary, Higgins, has sold its remaining 50% interest in Fletcher Construction's Fiji-based construction business to its joint venture partners, Fijian Holdings (FHL) and the Fiji National Provident Fund (FNPF), for a "non-material" amount, according to a Thursday filing with the Australian and New Zealand bourses.FNPF and FHL acquired a 50% stake in the Fiji-based business in 2024 and have since acquired full ownership, per the filing.Fletcher Construction's Fiji business was excluded from the broader sale to VINCI Construction, while its remaining South Pacific operations are still being reviewed as part of the company's ongoing strategic assessment, the filing added.
Fletcher Building (ASX:FBU, NZE:FBU) said its Laminex Australia division has conditionally agreed to sell its Cheltenham, Melbourne property to Forza Capital for AU$53.8 million, according to a Friday filing with the New Zealand bourse.The transaction is contingent upon Forza completing environmental due diligence and securing internal approvals by mid-June, with completion anticipated before the end of the fiscal year, subject to the satisfaction of all conditions, per the filing.Laminex Australia will continue occupying the site for at least three years after the sale while it evaluates its long-term manufacturing site requirements, the filing said.The company expects the transaction to result in an estimated gain on sale of around AU$14 million in fiscal 2026, after deducting costs related to the sale, lease remediation, and restructuring, the filing added.
New Zealand shares ended lower on Tuesday as most Asian indexes saw losses amid fresh attacks exchanged between the US and Iran over the Strait of Hormuz.The S&P/NZX 50 Index fell 0.47% or 61.98 points to close at 13,035.70.The US and Iran exchanged fresh strikes across the Gulf on Monday, vying for control of the Strait of Hormuz with rival maritime blockades and rattling an already fragile truce, according to a Monday Reuters report.Meanwhile, New Zealand signed an agreement with Singapore on Monday to keep supply chains open between the countries during times of crisis, according to a Monday Reuters report.In domestic news, the ANZ World Commodity Price Index fell 0.8% month over month in April, with dairy prices in a period of high volatility, particularly butter and anhydrous milk fat, according to a report from ANZ Research.Further, overall card spending fell 2.5% in April, but was up 4.4% compared with the same time last year, ANZ Research said in a note.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) acknowledged recent media reports about its ongoing strategic review of the residential and development division, including speculation around a potential industrial property sale, but declined to provide further comment.Synlait Milk (ASX:SM1, NZE:SML) obtained two waivers in relation to its syndicated loan facilities, as external challenges continue to strain the company's financial performance.
Fletcher Building (ASX:FBU, NZE:FBU) acknowledged recent media reports about its ongoing strategic review of the residential and development division, including speculation around a potential industrial property sale, but declined to provide further comment, according to a Tuesday filing with the Australian and New Zealand bourses.The company reiterated that the strategic review remains ongoing and that sales processes for industrial land are already underway alongside the Felix Street property divestment, the filing added.
Shares of the consumer durables sector gained the most on New Zealand's Exchange, rising past 3% on Thursday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose over 3% in recent trade.Meanwhile, non-energy minerals shares fell 1%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 1% in recent trade.
New Zealand shares closed lower on Tuesday amid reports of US President Donald Trump being unsatisfied with Iran's latest proposal to end the US-Iran conflict.The S&P/NZX 50 Index fell 0.86% or 110.54 points to close at 12,764.40.Trump is "unhappy" with Iran's latest proposal to resolve the two-month conflict, according to a Tuesday Reuters report, citing a US official.New Zealand signed a free trade agreement (FTA) with India on Monday that lowers tariffs on key fruit imports such as kiwifruit and apples, expands opportunities for Indian exports, and eases visa access as the two countries deepen economic ties, according to a Monday Reuters report.In domestic news, the total business count across New Zealand fell to 599,352 in March from 599,625 in February, according to data from Stats NZ.Also, the seasonally adjusted number of filled jobs across New Zealand industries rose 0.3% month on month to 2.4 million in March, following a 0.2% increase in the previous month, data from Stats NZ showed.Further, home lending in New Zealand increased almost 18% in the six months through December 2025, with first-home buyers receiving nearly a quarter of new residential loans in the period, the New Zealand Banking Association (NZBA) said.In corporate news, Tower (ASX:TWR, NZE:TWR) said AM Best has reaffirmed its financial strength rating at "A-Excellent" and its long-term issuer credit rating at "a-Excellent," both with a stable outlook.Fletcher Building (ASX:FBU, NZE:FBU) entered a binding conditional agreement to sell its Fletcher Reinforcing and Wire business to United Industries for NZ$15.7 million.
Fletcher Building (ASX:FBU, NZE:FBU) entered a binding conditional agreement to sell its Fletcher Reinforcing and Wire business to United Industries for NZ$15.7 million, according to a Tuesday filing with the New Zealand bourse.The transaction is subject to standard completion conditions, including approval from the New Zealand Commerce Commission and certain third-party consents, and is expected to close before the end of the year, per the filing.The final purchase price will be adjusted based on working capital and net debt, with the company expecting to record a loss on the sale of around NZ$20 million to NZ$23 million upon completion, the filing added.
Industrial services gained the most among New Zealand sectors on Tuesday, advancing 2%.Ventia Services Group (NZE:VNT, ASX:VNT) gained 2% in recent trade.Meanwhile, non-energy minerals shares fell almost 2%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 4% in recent trade.
New Zealand shares ended marginally higher on Monday after tensions rose in the Middle East, as the end of the two-week US-Iran ceasefire draws near.The S&P/NZX 50 Index edged up 0.1% or 9.8 points to close at 12,915.45.Tensions rose in the Middle East as the US seized an Iranian cargo ship and Iran's top military command vowed to retaliate. US President Donald Trump said he was sending envoys for talks in Pakistan. However, Iran rejected new peace talks with the US, its state news agency reported.Trump said he would launch new strikes on Iran if it didn't agree to his terms.In domestic news, New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February, Stats NZ data showed. Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion..New Zealand's first-quarter consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, which is slightly below the Reserve Bank of New Zealand's revised April forecast of 3%, brokerage firm BofA Securities said.In corporate news, Channel Infrastructure (NZE:CHI, ASX:CHI) confirmed an agreement with the New Zealand Government to add 93 million liters of diesel storage at its Marsden Point Energy Precinct, equivalent to around nine more days of national diesel demand.Genesis Energy (NZE:GNE, ASX:GNE) reached a final investment decision on the second stage of its battery energy storage system program at Huntly Power Station on New Zealand's North Island, with an estimated project cost of about NZ$106 million.Lastly, Fletcher Building (NZE:FBU, ASX:FBU) said the planned sale of Fletcher Construction to Vinci Construction has cleared key regulatory approvals in New Zealand, including Overseas Investment Office consent and confirmation from the Commerce Commission that it will not further review the transaction.
Fletcher Building (ASX:FBU, NZE:FBU) said the planned sale of Fletcher Construction to Vinci Construction has cleared key regulatory approvals in New Zealand, including Overseas Investment Office consent and confirmation from the Commerce Commission that it will not further review the transaction, according to a Monday filing with the New Zealand bourse.The company said that the deal is not yet finalized, as it remains subject to certain counterparty consents and restructuring steps, with completion now expected by the end of fiscal 2026, the filing added.
New Zealand shares ended flat on Thursday, while most Asian markets saw gains as investors saw growing optimism around US-Iran peace talks after Israel discussed a possible ceasefire against Lebanon.The S&P/NZX 50 Index was little changed to close at 13,066.06.On Wednesday, the Nasdaq Composite added 1.6%, the S&P 500 gained 0.8%, and the Dow Jones fell 0.2%.Israel's security cabinet met on Wednesday to consider a potential ceasefire in Lebanon, according to a Wednesday Reuters report, citing a senior Israeli official."As we move into the heart of earnings season, the focus is shifting back toward fundamentals, with a more idiosyncratic, stock-driven environment beginning to take hold," said Scott Rubner, head of equity and equity derivatives strategy at Citadel Securities, as quoted by Reuters in a separate report.In domestic news, New Zealand's nationwide housing market value rose by 0.2% year-on-year in March, with Auckland down 1.2% and areas outside Auckland seeing a modest 1.1% rise, Real Estate Institute of New Zealand (REINZ) said.Also, Businesses in New Zealand say they are experiencing considerable disruptions due to the Middle East conflict and the resulting surge in oil prices, Westpac said in a report.In corporate news, Contact Energy (ASX:CEN, NZE:CEN) said retail mass-market electricity and gas sales increased year on year in March, alongside a rise in wholesale contracted electricity sales.Fletcher Building (ASX:FBU, NZE:FBU) reported modest improvements in key product volumes for the fiscal third quarter, with gains in light building products and distribution partially offset by continued weakness in heavy materials and residential activity.
Fletcher Building (ASX:FBU, NZE:FBU) reported modest improvements in key product volumes for the fiscal third quarter, with gains in light building products and distribution partially offset by continued weakness in heavy materials and residential activity, according to a Thursday filing with the New Zealand bourse.The company's March quarter volumes for its residential unit fell 24% from a year earlier, while volumes rose 6.6% for its distribution unit, and mostly declined across its heavy building materials segment, whereas its light building products segment showed mixed to modest growth overall, per the filing.The company noted that rising global risks linked to the Middle East conflict are increasing fuel and material costs, which it is managing through hedging, pricing actions, and diversified sourcing, but early signs of softer construction demand are emerging, the filing added.
Non-energy mineral stocks advanced more than 1% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose past 2% in recent trade.On the flip side, the consumer non-durables sector struggled, shedding past 20%.Fonterra Co-operative Group (NZE:FCG) fell almost 28% after the company's roughly NZ$3.2 billion capital return to shareholders was implemented on April 10.