Kerry Stokes’ Seven Group Holdings has acquired a 10 per cent stake in ailing building materials company Boral, positioning itself for a large increase in government spending on infrastructure projects to help the economy out of a hole.
Seven Group, run by Ryan Stokes, son of Rich Lister Kerry Stokes, is also giving itself a seat at the table for any potential break-up of Boral by an outsider, but does not intend being the aggressor itself.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
