BRIEF-Fletcher Building to sell Pacific Steel business

Feb 17 (Reuters) - Fletcher Building Ltd FBU.NZ :

* Fletcher Building to sell Pacific Steel business

* Says transaction valued at approximately NZ$120 million

* Assuming completion by 30 June 2014 expects to record a significant expense item of up to $19 million

* Most employees in pacific steel's rolling mill and wire drawing facilities will be offered employment with BlueScope units

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