Higgins Acquisition Completed

Higgins Acquisition Completed

Auckland, 29 July 2016 – Fletcher Building Limited (Fletcher Building) announces it has completed the transaction to acquire New Zealand and Fiji road construction and maintenance business Higgins for a purchase price of NZ$303 million.

The businesses acquired as part of this transaction comprise principally:
· Higgins’ road construction and maintenance operations in New Zealand, including asphalt and bitumen plants

· Road construction and maintenance operations in Fiji

· Higgins’ aggregates business (excluding the Horokiwi Quarry, a Wellington based joint-venture)

· Other related businesses including the manufacture of traffic signs, bitumen tanks and sprayers

Higgins’ ready-mix concrete and property businesses are excluded from the transaction which has been cleared by all relevant New Zealand and Fijian regulatory authorities.

Ends

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