MAAS rises as Australia clears $1.2 billion unit sale to Heidelberg

MAAS group

18/09/2026 02:28

** Shares of Australia's MAAS Group MGH.AX rise as much as 9% to A$6.17, marking their biggest intraday pct gain since August 20
** Stock hits highest level since August 21
** Real estate firm says Australia's Treasurer, through the Foreign Investment Review Board, issued a no-objection notice for the proposed sale of its construction materials division to Germany's Heidelberg Materials' HEIG.DE local arm
** Deal for up to A$1.703 billion ($1.21 billion)
** Expects deal to be settled in October 2026
** MGH up nearly 4% this week, extending winning streak to three
** YTD, stock up 12.3%
     
($1 = 1.4057 Australian dollars)

(Reporting by Subhalakshmi Dey in Bengaluru)
((Subhalakshmi.Dey@thomsonreuters.com;))