MAAS Group Holdings Limited said the sale of its construction materials business to Heidelberg Materials Australia Holdings Pty Limited has completed after conditions precedent, including regulatory and shareholder approvals, were satisfied or waived.
The company said shareholders approved the divestment at its annual general meeting in September 2026, with Resolution 5 carried by 99.99% of votes cast. It said about 1,140 employees transitioned with the construction materials division.
MGH said it received $1.61 billion on completion, comprising the purchase price and estimated completion adjustments. The company said it may also receive contingent consideration of up to $120 million if agreed commercial and operational milestones are achieved.
The transaction remains subject to customary post-completion purchase price adjustments. MGH said it would provide further information on use of the proceeds and its capital management priorities as appropriate.
Source: Download MGH official ASX announcement, 2026-10-02.
MAAS Group Holdings announcement page, 2 October 2026.