VINCI takes majority stake in FLETCHER CONSTRUCTION

Fletcher Building has entered into an agreement to divest its Fletcher Construction division to international group VINCI, as part of a strategic restructuring initiative aimed at refocusing the company on its core building materials manufacturing and distribution operations. The transaction encompasses all of Fletcher Construction's operations in New Zealand, including its key business units, while certain non-core activities and legacy liabilities are excluded from the sale and retained by Fletcher Building. This deal is consistent with Fletcher Building's strategy to simplify its portfolio, reduce debt, and optimize its capital allocation. For VINCI, the acquisition strengthens its presence in a strategic geographic region and provides access to a local construction platform with a strong market position in New Zealand. The integration of Fletcher Construction is expected to enhance VINCI's capabilities in delivering complex infrastructure projects and expand its exposure to public and private sector programs in the region. The completion of the transaction remains subject to customary regulatory approvals and certain closing conditions related to the separation of the retained businesses by Fletcher Building.

By taking control of Fletcher Construction, Vinci continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Fm Conway in 2025.