Boral given permission to buy Wagners Construction Materials less flyash JV

Building materials maker Boral has received clearance from the competition regulator to buy Wagners Construction Materials assets in Queensland.

Boral said it had agreed with the Australian Competition and Consumer Commission (ACCC) to exclude the 60 per cent interest in the flyash joint venture.

That would reduce the takeover price by $10 million to $163 million, Sydney-based Boral said in a statement on Tuesday.

Boral and the flyash joint venture will put in place asupply agreement to meet the expected flyash requirements of the acquired Wagners operations.

The takeover is likely to be completed by the end of November.

SOURCE:  http://news.ninemsn.com.au

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