EQS-Ad-hoc: STRABAG SE / Key word(s): Acquisition
STRABAG SE pursues market entry in Australia with acquisition of Georgiou
Group Pty Ltd
27-Nov-2024 / 17:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
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STRABAG SE pursues market entry in Australia with acquisition of Georgiou
Group Pty Ltd
• Entry into Australian market planned through acquisition of Australian
construction company
• Finalisation of share deal framework
• Approval pending from STRABAG SE Supervisory Board and Australia’s
Foreign Investment Review Board (FIRB)
STRABAG SE is pursuing entry into the Australian market through
acquisition of Georgiou Family Pty Ltd. (“Georgiou”), a leading building
and civil construction company, and has reached an agreement with the
sellers on the main terms of a share deal.
STRABAG plans to acquire 100% of the shares in Perth-based Georgiou, which
generates an annual output of around € 790 million, effective
retroactively from 30 June 2024. The purchase price, which has yet to be
finalised, will be in the low three-digit million euro range. The
transaction will be financed through existing cash and cash equivalents.
The acquisition remains subject to the final signing of the purchase and
transfer agreement and is pending approval from the Supervisory Board of
STRABAG SE and other regulatory bodies, in particular the Foreign
Investment Review Board (FIRB), the Australian government’s advisory body
on foreign investments.
Georgiou’s experienced management team, which possesses extensive
expertise and experience in the Australian market, will remain with the
company following its acquisition.
End of Inside Information
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27-Nov-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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Language: English
Company: STRABAG SE
Donau-City-Straße 9
1220 Vienna
Austria
Phone: +43 1 22422 – 1089
Fax: +43 1 22422 - 1177
E-mail: investor.relations@strabag.com
Internet: www.strabag.com
ISIN: AT000000STR1
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2039707
End of Announcement EQS News Service
2039707 27-Nov-2024 CET/CEST
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