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News Etex hires JP Morgan for Knauf Australia assets bid

Etex hires JP Morgan for Knauf Australia assets bid

Written by Global Gypsum staff
23 November 2020
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Australia: Belgium-based Etex has hired financial services provider JP Morgan to help it buy Knauf’s Australian gypsum wallboard portfolio, valued at around US$293m. The Australian newspaper reports that Saint-Gobain and China National Building Material (CNBM) are also interested in the sale.

Knauf is divesting the assets to satisfy the Australian Competition and Consumer Commission’s fair play rules following its purchase of Boral’s stake in the USG-Boral gypsum wallboard joint venture for US$1.05bn. The companies have until September 2020 to finalise the transaction.

Published in Global Gypsum News
Tagged under
  • Australia
  • Etex
  • Knauf
  • Bid
  • SaintGobain
  • CNBM
  • JP Morgan
  • Plant
  • divestment
  • Australian Competition and Consumer Commission
  • USG Boral

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