29 Oct BORAL’S NEW CEO IMPRESSES WITH A $1.5B DEAL
Just four months in the seat, Boral’s recently appointed CEO, Zlatko Todorcevski, has delivered what media have called a “juicy deal” – selling Boral’s half share in plasterboard maker USG Boral for close to $1.5 billion to German conglomerate Knauf.
The deal is part of a major restructure of the multi-billion dollar construction and building materials group – a long term client of Cannings.
Investors and media welcomed this week’s announcement, with analysts at Jefferies telling Reuters that the Knauf price tag “exceeded market expectations”, adding: “Boral tomorrow will look very different to the Boral of today”.
On the media front, James Thomson, columnist at The Australian Financial Review, described the sale as a “juicy deal”, reporting that the price “Todorcevski has extracted is better than some investors expected”.
Boral engaged Cannings to provide strategic communications advice and support for the transaction, working closely with its internal communications team and other external advisers.
Over the past 20 years, Cannings has provided advice and support during some of Australia’s most controversial and high profile transactions, including mergers and acquisitions and IPOs worth several billions of dollars.