STRABAG is expanding its operations into Australia with a €140 million acquisition.
Austrian firm STRABAG is expanding into the Australian market with its acquisition of the Georgiou Group – image courtesy of © Andrey Bayda| Dreamstime.com
Austrian firm Strabag is expanding its operations into Australia, with the €140 million deal to buy the Georgiou Group. The final purchase agreement for the 100% takeover of the road and infrastructure specialist has been signed, following receipt of the necessary approvals.
The STRABAG Supervisory Board approved the planned acquisition on 17 December 2024, followed on 18 December 2024 by approval from Australia’s Foreign Investment Review Board (FIRB). The shares will be acquired as part of a share deal.
The final purchase price, equivalent to around €140 million, will be financed through the company’s existing cash and cash equivalents. The transaction is expected to close in the first quarter of 2025.
