(Reuters) - Australian building materials supplier Boral Ltd <BLD.AX> said on Monday it has agreed to form a joint venture with Germany's Gebr Knauf KG to sell plasterboard in Asia, as part of a complex deal that also gives the Australian company back full control of a separate local unit.
Boral said it will pay $241 million to buy a half share of the USG Boral Asia joint venture, which will encompass Knauf's Asia plasterboard business. Boral will also buy out Knauf's 50% stake in USG Boral Australia and New Zealand, returning the business to full Boral control.
The overall deal will cost Boral $441 million.
(This story corrects headline and copy throughout to clarify value of deal and business units involved)
(Reporting by Niyati Shetty in Bengaluru and Byron Kaye in Sydney. Editing by Jane Wardell)
