Australia: Knauf is reportedly looking for buyers for its business in Australia. The Royal Bank of Canada and PricewaterhouseCoopers have been helping the gypsum wallboard producer manage a potential sale, according to the Australian newspaper. The German company operates three wallboard plants in the country. They are thought to be worth up to US$200m.
Any such sale is likely to be related to Knauf’s acquisition of USG in 2019. The US-based company owns a 50% share in USG-Boral, which also operates wallboard plants in Australia. Boral said in April 2020 that it thought it unlikely that the Australian Competition and Consumer Commission (ACCC) would approve its plans for USG-Boral so far. If Knauf were able to sell its other assets in Australia then its options with USG-Boral are more likely to be accepted. Speculation has mounted in the local press about partial or full asset divestments by Knauf in Australia since the USG acquisition.
