Sekisui Chemical to Acquire 51% Stake in Australia's Ausbild For AU$335 Million
MT Newswires Live
4 hours ago
Sekisui Chemical Co (TYO:4204) has agreed to acquire a 51% stake in Australian homebuilder Ausbuild Group for AU$335 million, according to a company statement on Thursday.
The acquisition will be executed via wholly owned subsidiary Sekisui Heim Australia, and is expected to be completed by January 2027.
Following the initial purchase, Sekisui Chemical plans to gradually lift its stake in the Queensland-based company, which will become a consolidated subsidiary in the fiscal year ending March 2027.
The Japanese manufacturer aims to combine its modular construction methods with Ausbuild's local land holdings to address Queensland's housing deficit ahead of the 2032 Brisbane Olympics.
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