The Webuild has announced that it has reached a conditional agreement to acquire the entire share capital of the Australian company Clough Limited, which is wholly owned by Murray & Roberts of South Africa and had an order backlog of approximately EUR2.1 billion (US$2.1 billion).

The transaction involves: 

• strengthening the organizational, engineering and human resources structure, expanding and diversifying Webuild's operations in Australia;
• strengthening Webuild's presence in Western Australia, Queensland, New South Wales and Victoria;
• buffing central Clough resources for benefit from scale and significant synergies.

Webuild, which order book and preferred bids are nearly EUR9 billion (US$9 billion), will provide an AUD30 million (approximately US$19 million) loan to Clough between signing and closing and take over minority stakes in projects in Australia carried out in partnership with Clough, including Snowy 2.0 and Inland Rail.