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REDEEMABLE NONCONTROLLING INTERESTS (Tables)
12 Months Ended
Jun. 30, 2018
Noncontrolling Interest [Abstract]  
Redeemable noncontrolling interest redemption adjustments
 
Middle East
Percentage of redeemable noncontrolling interest
25.0% (a)
Earliest exercise date(s)
December 2028 (b)
Formula of redemption value
3-year average of EBIT (c) * 6
 
 

(a) Upon the effective date of the amendment (July 1, 2017), the parties will be entitled to call or put the remaining interest in July 2028. The Put right and Call right will be exercised in respect of the noncontrolling interest holder’s percentage of shares of the Middle East subsidiary at the time of the exercise.
(b) Upon the effective date of the amendment (July 1, 2017), the parties will be entitled to call or put the noncontrolling interest holder’s percentage of shares of the subsidiary in December 2028.
(c) EBIT is defined in the amended shareholders’ agreement as the consolidated net earnings before interest and income tax.