Knauf agreed to acquire Middle East business for $50m, resulting in an expanded USG Boral Asia JV , subject to regulatory approvals. Boral and Knauf will have 50:50 ownership of the expanded USG Boral Asia JV at completion. With a 30-year history in Asia, USG Boral comes into the expanded joint venture with an outstanding manufacturing and distribution footprint in 9 countries across Asia with 562m m2 of highly utilised plasterboard manufacturing capacity. "Our approach to considering the strategic options for USG Boral has been to create value for our shareholders in a way that is aligned with our strategy – and in a way that helps to ensure our balance sheet remains strong. After considerable and detailed due diligence, the Board believes that this transaction is compelling for Boral and our shareholders. It is well-aligned with our strategy and the plasterboard assets of Knauf in Asia are highly complementary with USG Boral’s business in the region," Kathryn Fagg, Boral’s Chairman.