Business Services Industry
AUSTRALIA'S COMPETITION WATCHDOG TO APPROVE MAJOR ACQUISITIONS.
AsiaPulse News, December, 2002
SYDNEY, Dec 23 Asia Pulse - Australia's competition watchdog today said it will not stand in the way of two major acquisitions proposed by John Holland Group Pty Ltd.
John Holland, which is 70 per cent owned by construction giant Leighton Holdings Ltd, earlier this month announced plans to acquire Transfield Construction Pty for $A50 million ($US28.1 million).
Last month Leighton confirmed it also was considering acquiring the Australian assets of German-based construction group Walter AG for an undisclosed sum.
The acquisitions would boost Leighton's work in hand, previously forecast to exceed $A10 billion ($US5.62 billion) by 30 June 2003, by a total of nearly $A1.4 billion ($US786.94 million).
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