NZ's Fletcher Building rises on approval for $180-million business sale

Fletcher Building

20/04/2026 05:03

** Shares of New Zealand's Fletcher Building FBU.NZ rise as much as 3.8% to NZ$2.98, their biggest intraday pct gain since April 8

** The construction material maker says sale of Fletcher Construction to VINCI Construction received an approval from New Zealand Overseas Investment Office

** Earlier this year, Fletcher said it would sell its construction division, Fletcher Construction, to French infra firm VINCI SA's SGEF.PA unit for NZ$315.6 million ($183.2 million)

** Expects sale to complete by end of FY26

** Despite moves, stock down 20.7% YTD

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))