Australia: Boral updates market on USG Boral situation

摘要

Boral has updated the market on its transaction with Knauf in relation to its USG Boral joint venture. On 19 March 2020, Boral announced that its view was that the Australian Competition and Consumer Commission (ACCC) was unlikely to approve the call option in relation to the Australian and New Zealand business. In further discussions between Boral and Knauf, it has now become clear that obtaining the necessary regulatory approvals required to allow the transaction to be implemented, as signed in August 2019, are not achievable by the 30 June 2020 deadline. Other conditions to the transaction also remain outstanding.