Leighton Holdings, Australia’s largest contractor, has bought family-owned Transfield Construction for US$28.12M, to boost its John Holland subsidiary. Under the memorandum of understanding, John Holland, in which Leighton has a 70% stake, will acquire the business contracts, property, plant, equipment and goodwill of Transfield Construction. The move will boost the amount of work in hand by US$281M. John Holland managing director Bill Wild said: “Transfield is a very good fit in terms of skills and experience and will significantly enhance the scale of John Holland.” The deal is expected to be completed by the end of this month.
