Australia's Maas Group set for worst day after sale of construction materials division

MAAS group

05/02/2026 03:45

** Shares of Australia's Maas Group MGH.AX slide 23.2% to A$4.30, on track for their worst session ever

** Stock at its lowest since November 24

** Real estate firm says it would sell construction materials division to Heidelberg Materials Australia (HMA) for up to A$1.70 billion ($1.18 billion)

** Co says certain freehold land will be retained by it and leased to HMA under long-term commercial lease arrangements

** The transaction represents a valuation premium to MGH's current trading multiple and above comparable transactions in the construction materials sector, co adds

** Around 4.5 mln shares change hands, nearly 9.2x 30-day average

** MGH down 21.1% YTD

($1 = 1.4351 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))