The capital raised will be used to finance investments and growth, including an upgrade of Boral's Victorian plasterboard plant, the prospective development of Peppertree quarry in New South Wales, the acquisition of remaining interests in the MonierLifetile US concrete roof tiles joint venture, and simply to strengthen the balance sheet.

The Freehills team comprises partners Tony Sparks and Philippa Stone, senior associate Daniel Scotti and lawyer Carl Hornigold, while the Mallesons team was led by partner David Friedlander who was assisted by solicitors Daniel Natale and Avi Naidu.