Fletcher Building is selling off its construction arm to a French multinational

It's agreed a deal with Vinci Construction - worth as much as 334-million dollars.

Vinci will pay 315.6 million dollars for the purchase.

On top of that, it'll spend up to 18.5 million dollars in additional payments, depending on key contracts still under negotiation.

If regulators approve the sale, Fletcher hopes to have it wrapped up this year.