KEY POINTS:
Fletcher Building is teaming up with Australian rival Boral to bid for Carter Holt Harvey assets being sold by billionaire Graeme Hart, a Wellington newspaper is reporting today.
Mr Hart is selling wood-based building items manufacturer and marketer Wood Products New Zealand, which has 12 manufacturing sites, Wood Products Australia, which has six, New Zealand's Carters building materials chain and Interion, which markets and sells furniture, joinery and construction products.
Indicative offers for the Carter Holt assets, in what is expected to be a $2 billion plus deal, were due last week.
Market sources said yesterday that the Fletcher-Boral combination was facing its main competition from international private equity fund CVC Capital Partners.
Mr Hart's Rank Group has told Carter Holt staff it wants to complete a sale by the end of the year.
- NZPA
