Fletcher Building Sold 13.4% stake in Puhoi to Warkworth toll road
Fletcher Building announces the completion of the sale of its 13.4% stake in the NX2 Pūhoi to Warkworth toll road public-private partnership (PPP) vehicle for NZ$20.2 million (US$11.3 million) to a New Zealand-based infrastructure investor.
The sale completes Fletcher Building’s exit from the project it helped deliver since 2016 and marks the end of its involvement in all PPP investments. CEO Andrew Reding stated the move supports the company’s strategy to simplify its portfolio and refocus on core manufacturing and distribution businesses. With this disposal, Fletcher has now recovered all equity invested in the NZ$875 million motorway (which opened in June 2023) and previously settled a NZ$56 million delay claim with NZ Transport Agency Waka Kotahi earlier in 2025.
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