Saint-Gobain Agrees To Sell CSR's Badgerys Creek Property For A$575 Mln

(RTTNews) - Compagnie de Saint-Gobain S.A. (SGO.PA), a French sustainable construction company, on Wednesday announced that it has agreed to sell Australia-based CSR Ltd.'s Badgerys Creek property asset for a consideration of A$575 million or around 320 million euros.

The transaction is expected to be completed on December 19.

The divesting property is located adjacent to the new Western Sydney Airport. It is part of CSR's at least A$1.3 billion worth property assets identified for monetization in the mid-term by Saint-Gobain at the time of the CSR acquisition in July 2024.

Saint-Gobain has so far sold A$900 million worth of CSR assets, including Badgerys Creek, since the acquisition.

In the Paris market, SGO.PA shares were trading 0.65% lower at 100 Euros.