Brickworks stock shifts into Soul Patts private portfolio

Published on 10/07/2026 at 02:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

A September 2025 combination placed Brickworks Building Products under full Soul Patts ownership. FY 2026 disclosures put retained real estate at AUD 400 million.

Brickworks, AU000000BKW4, Illustration mit AI erstellt.

Brickworks stock shifted into Washington H. Soul Pattinson's private-company portfolio after a AUD 15 billion combination completed in September 2025. The transaction transferred Brickworks Building Products into full Soul Patts ownership and ended Brickworks' role as a listed holding.

Merger changes the ownership structure

According to Brickworks, the implementation of the Soul Patts and Brickworks share schemes took place on September 23, 2025, followed by Brickworks' removal from the ASX Official List on September 24, 2025.

The scale of the transaction remains the defining figure. Investing.com reported for fiscal year 2026 that Soul Patts completed the AUD 15 billion merger, its largest transaction in 123 years, and that Brickworks now appears within private companies and real assets.

Building Products becomes the core asset

The merger gave Soul Patts 100 percent ownership of Brickworks Building Products from September 2025, making the business its largest investment in the private-company asset class, according to the FY 2026 transcript published by Investing.com.

That portfolio position combines operating businesses with property assets. Soul Patts retained AUD 400 million of Brickworks-related real estate after the industrial property transaction, including a 50.1 percent interest in the Brickworks Manufacturing Trust and AUD 235 million of wholly owned surplus and development land.

Property assets retain strategic value

The retained assets give the former listed group a second value driver beyond manufacturing. The manufacturing trust holds 13 long-lease plants, while the development land includes sites in Craigieburn and the United States Mid-Atlantic region with rezoning potential, according to Investing.com.

For former Brickworks shareholders, the key change is the security received through the combination rather than a continuing BKW quotation. Brickworks Building Products and the retained property portfolio now contribute to Soul Patts' private-company and real-assets mix.

Brickworks becomes a private holding

Brickworks Limited is now represented through Soul Patts' private assets rather than a standalone ASX stock. The ownership transition, the AUD 15 billion transaction value and the AUD 400 million retained property base define the investment story on October 7, 2026.