USG forms $1.6 billion plasterboard and ceilings joint venture with Boral Limited in Asia, Australia, and Middle East

Client(s) USG Corporation

Jones Day advised USG Corporation in its formation of a strategic 50/50 $1.6 billion plasterboard and ceilings joint venture with Boral Limited in Asia, Australia, and the Middle East, known as USG Boral Building Products. USG, the largest North American manufacturer of plasterboard, contributed its Asian and Middle Eastern businesses, as well as exclusive access to its world leading ceilings, cement board, fiber board, lightweight plasterboard, and joint compound building products technologies in the joint venture's territory. Boral contributed its gypsum division to the joint venture, which includes its plasterboard operations in Australia and Asia. In order to achieve a 50 percent interest in the joint venture, USG paid Boral total payments (equalization payments) of up to $575 million.

In addition to M&A representation, Jones Day provided intellectual property, capital markets, banking, and antitrust advice regarding this transaction.