MAAS rises as Australia clears $1.2 billion unit sale to Heidelberg

By Reuters News

** Shares of Australia's MAAS Group MGH.AX rise as much as 9% to A$6.17, marking their biggest intraday pct gain since August 20

** Stock hits highest level since August 21

** Real estate firm says Australia's Treasurer, through the Foreign Investment Review Board, issued a no-objection notice for the proposed sale of its construction materials division to Germany's Heidelberg Materials' HEIG.DE local arm

** Deal for up to A$1.703 billion ($1.21 billion)

** Expects deal to be settled in October 2026

** MGH up nearly 4% this week, extending winning streak to three

** YTD, stock up 12.3%

($1 = 1.4057 Australian dollars)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.