Boral JV delivers technology, cash

Cash in the bank, reduced debt and possibly a special dividend. Boral banks on the technology of its jv partner to deliver earnings growth.

At first glance, Boral's (BLD) latest deal appears not so much a joint venture as a partial sale.

Its $1.6 billion hook up with American group USG in Australasia, Asia and the Middle East will involve a depletion of earnings in the year ahead and an upfront payment from the American group of $500 million.

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Ian Verrender

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