Fletcher Building receives regulatory approvals for $273m sale to Vinci

The news: The New Zealand Overseas Investment Office and New Zealand Commerce Commission have given their final approval for the sale of Fletcher Construction to Vinci Construction.

The context: This follows the announcement earlier this year that Fletcher has agreed to sell its construction division to international construction group Vinci for $237.2 million.

The transaction includes three key building units; Higgins, Brian Perry Civil and Fletcher Construction Major Projects.

The company stated that, while key regulatory requirements have been met, completion remains subject to restructuring conditions and consents and is expected to occur by the end of FY26.