{"id":241799,"date":"2026-01-20T02:41:08","date_gmt":"2026-01-20T02:41:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/241799\/"},"modified":"2026-01-20T02:41:08","modified_gmt":"2026-01-20T02:41:08","slug":"fletcher-building-to-sell-construction-arm-to-vinci","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/241799\/","title":{"rendered":"Fletcher Building to sell construction arm to Vinci"},"content":{"rendered":"

\"Fletcher<\/p>\n

\nFletcher Building headquarters in Auckland.
\nPhoto: Fletcher Building\n<\/p>\n

Fletcher Construction to be sold for $315.6m, potentially rising to $334.1m
\n Sale includes Higgins, Brian Perry Civil and Fletcher Construction Major Projects
\n The deal is subject to regulatory approvals.<\/p>\n

Fletcher Building has reached a binding agreement to sell its construction division to major international firm Vinci Construction.<\/p>\n

The initial sale price was $315.6 million, but could rise to just over $334m depending on the outcome of key contract negotiations.<\/p>\n

The sale of Fletcher Construction Holdings included its New Zealand business units, Higgins, Brian Perry Civil and Fletcher Construction Major Projects.<\/p>\n

“Over the past year, we have been clear that Fletcher Building’s future lies in being a focused building products manufacturer and distributor, supported by a strong balance sheet and disciplined capital allocation,” Fletcher Building chief executive Andrew Reding said.<\/p>\n

“The sale of Fletcher Construction is a significant step forward in delivering that strategy, while continuing the work underway to simplify the portfolio, lower debt and improve shareholder returns,” he said.<\/p>\n

Reding was confident the sale to Vinci would be the right transaction for shareholders, Fletcher Construction itself and the broader New Zealand construction industry.<\/p>\n

“I believe Fletcher Construction will find a strong home with Vinci, whose strengths are well aligned with the business, and which has a proven track record of successfully delivering major infrastructure projects globally.”<\/p>\n

The deal was subject to regulatory approvals, including from the Overseas Investment Office and the Commerce Commission.<\/p>\n

Fletcher Building also expected to set aside $55-$65m for probable future claims relating to legacy construction contracts retained following the divestment.<\/p>\n

However, it did not include any allowances for potential legal liability relating to the NZ International Convention Centre project.<\/p>\n

The decision to sell Fletcher Construction followed a strategic review of the wider Fletcher Building business in 2025.<\/p>\n

“Following our strategic review in 2025, we received strong inbound interest for the construction business,” Reding said.<\/p>\n

Sign up for Ng\u0101 Pitopito K\u014drero<\/a>, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.<\/p>\n","protected":false},"excerpt":{"rendered":"Fletcher Building headquarters in Auckland. Photo: Fletcher Building Fletcher Construction to be sold for $315.6m, potentially rising to…\n","protected":false},"author":2,"featured_media":241800,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[48,138,47,111,43,139,69,49,46,44,45],"class_list":{"0":"post-241799","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-audio","9":"tag-business","10":"tag-current-affairs","11":"tag-new-zealand","12":"tag-news","13":"tag-newzealand","14":"tag-nz","15":"tag-podcasts","16":"tag-public-radio","17":"tag-radio-new-zealand","18":"tag-rnz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/241799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=241799"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/241799\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/241800"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=241799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=241799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=241799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}