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(From M&A Navigator)
MANAVIGATOR-September 3, 2012-Fletcher Building agrees sale of Corys Electrical to Sonepar (C)2012 M2 COMMUNICATIONS http://www.m2.com
3 September 2012 - New Zealand's building materials maker and distributor Fletcher Building Limited (NZE:FBU) said on Monday it had conditionally agreed to dispose of its distribution unit Corys Electrical to French electrical products distribution group Sonepar SA. Fletcher Building, which got Corys Electrical as part of its purchase of Australian Crane Group Ltd in 2011, expects to realise proceeds of nearly USD90m (EUR72m) in total from the sale of this business and two of Crane's metals distribution …