Three Australian building materials giants – CSR, Boral and cement group Adbri – are disappearing from the bourse after more than 60 years as stalwarts of ASX industrial portfolios.

The $10.6 billion of privatisations come at a low point in the construction cycle, with an improvement in building activity forecast to arrive in mid-2025, assuming interest rates start falling next year. If those predictions are right, the new owners of CSR, Boral and Adbri stand to make huge returns.