Australia: Government approves sale of construction firm to China
April 8 , 2015
The Australian government has approved the sale of construction firm John Holland to a Chinese company.
The $879 million deal — between one of Australia’s largest construction companies and China Communications Construction Company (CCCC), the world’s fourth-biggest building firm — was clinched in 2014, but required regulatory approval.
John Holland has operated in Australia for over six decades and has over 5,600 employees in eight countries. The state-owned Chinese giant CCCC has operations in over 80 countries.