Latest / Best of Business / Mark Lister: Craigs Investment Partners investment director on Fletcher Building selling construction arm to Vinci Construction

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Mark Lister: Craigs Investment Partners investment director on Fletcher Building selling construction arm to Vinci Construction · Best of Business

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  Speaker 2: Of course, he can get the critical minerals without taking
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  Speaker 2: Greenland by force or even buying Greenland. All that would
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  Speaker 2: require is a deal, and that is potentially what he
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  Speaker 2: is trying to negotiate right now through Force ten after five,
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  Speaker 2: Fletcher has taken a leaf out of Fonterra's book sold
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  Speaker 2: part of its business to the French. Vanci Construction has
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  Speaker 2: agreed to buy Feature's construction arm for at least three
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  Speaker 2: hundred and fifteen million bucks, possibly more. Still needs Overseas
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  Speaker 2: Investment Office approval. ComCom has to get involved as well.
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  Speaker 2: Mark mister investment director Craig's Investment partners with me. Mark,
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  Speaker 2: good evening, Good to have you on the show.
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  Speaker 3: Thank Ryan.
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  Speaker 2: Now is this well? First of all, what are the
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  Speaker 2: markets think of this?
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  Speaker 3: MARKA liked it. The share price was up a little
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  Speaker 3: more than two percent today, which is a good result
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  Speaker 3: because it was a week day. The index was down
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  Speaker 3: and there's a sea of red on the screen because
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  Speaker 3: of all the concerns around what we're seeing over ease
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  Speaker 3: that you just were speaking about with the previous guests,
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  Speaker 3: so to be up two point four percent, biggest top
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  Speaker 3: biggest positive mover in the indedex fifty. I think the
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  Speaker 3: market likes what it sees.
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  Speaker 2: Given the problems, and we know about the problems. They've
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  Speaker 2: been well documented over the last few years. Does this
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  Speaker 2: look like the start of a turnaround?
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  Speaker 3: Well, I think they'll need to get a few runs
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  Speaker 3: on the board from here to give us a bit
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  Speaker 3: more evidence of that, but shareholders will be happy. It
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  Speaker 3: won't be a surprise. They have signaled this for a
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  Speaker 3: little while now. This division's been really challenging for a while,
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  Speaker 3: you know, delays, cost over runs, slow margins, and Fletchers
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  Speaker 3: does want to simplify its business, reduce its debt levels,
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  Speaker 3: focus a little bit more on the things that it
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  Speaker 3: wants to move forward with. So this is a big
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  Speaker 3: step towards doing that. It will allow the company to
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  Speaker 3: pay down debt. They haven't had a dividend since twenty
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  Speaker 3: twenty three, so I think they want to get into
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  Speaker 3: a position where they can reduce debt levels and start
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  Speaker 3: paying dividends again. So it doesn't it doesn't completely get
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  Speaker 3: them out of the dog box that they've been them
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  Speaker 3: for many years now, but it's a step in the
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  Speaker 3: right direction.
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  Speaker 2: Appreciate that Mark Mark mister Craig's Investment Partners Investment Directed with.
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