Fletcher Building Unit Exits Fiji Construction Business After Final Stake Sale

MT Newswires Live

May 14

Fletcher Building (ASX:FBU, NZE:FBU) said that its subsidiary, Higgins, has sold its remaining 50% interest in Fletcher Construction's Fiji-based construction business to its joint venture partners, Fijian Holdings (FHL) and the Fiji National Provident Fund (FNPF), for a "non-material" amount, according to a Thursday filing with the Australian and New Zealand bourses.

FNPF and FHL acquired a 50% stake in the Fiji-based business in 2024 and have since acquired full ownership, per the filing.

Fletcher Construction's Fiji business was excluded from the broader sale to VINCI Construction, while its remaining South Pacific operations are still being reviewed as part of the company's ongoing strategic assessment, the filing added.

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