- Boral (BLD) has completed the sale of its 50 per cent share in the USG Boral joint venture to Gebr Knauf KG for US$1.015 billion (around A$1.33 billion)
- In October last year, both companies entered an agreement for Boral to sell its interest in the joint venture after a compelling offer was received
- Boral will use the funds to reduce its net debt position from $1.9 billion to its targeted net debt of $1.5 billion
- The remaining $1 billion will be used to reinvest in the business and return to shareholders
- Boral will also undertake an on-market share buy-back and has revealed it intends to buy back up to 10 per cent of issued shares over the next 12 months
- Company shares are steady on the market and are trading at $5.81
Boral: Completes $1.3B sale of USG Boral JV
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