Fletcher Building Limited (FRCEF) has released an update.
Fletcher Building Limited has reached an agreement to sell its Tradelink business unit to Metal Manufactures Pty Limited for A$170 million, with the sale expected to complete by September 2024. The deal includes a combination of upfront cash and deferred payments tied to separation milestones. As a result of the sale, the company anticipates a non-cash impairment in its FY24 accounts and a non-cash loss related to the derecognition of Tradelink’s Foreign Currency Translation Reserve balance.
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