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Boral sells stake in bricks joint-venture

AAP logoAAP 31/10/2016

Building materials supplier Boral will sell its 40 per cent stake in the Boral CSR Bricks joint-venture to CSR for $133.9 million.

Boral will make a profit of $20 million to $25 million on the sale, which will be reported as a significant item in fiscal 2017.

Chief executive Mike Kane says the joint-venture has performed well, but now is the time to realise value for the business and redirect capital to Boral's core operations.

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