Australia: Government approves sale of construction firm to China

  • 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.

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