News Turner Construction buys Irish engineer Dornan Turner Construction has announced that it will acquire the shares of Ireland’s Dornan Engineering for an unspecified amount. Turner hopes the deal will allow ity to attract blue-chip clients in…
Companies Lendlease takes ‘tough decision’ to quit international markets Australian construction group Lendlease has announced plans to exit international markets in the next 18 months. The move will allow the company to “recycle” US$3bn in capital by completing projects,…
Companies Mott MacDonald buys Australia’s Merz Consulting UK-headquartered engineering consultancy Mott MacDonald has acquired Australian engineering and energy consultancy Merz Consulting. Merz specialises in power distribution, transmission-and-generation design, and project delivery. Mott MacDonald said it has a…
News Canadian consultant Stantec buys UK engineer Hydrock Canada consulting engineer Stantec has acquired UK rival Hydrock for an undisclosed sum. The deal will boost Stantec’s UK workforce by over 30% and increase its capacity in the building…
Companies Vinci buys into green energy firm, eyes expansion in US renewables French construction group Vinci has finalised a €50m investment NatPower, a renewable energy developer set up in 2019. The company, which is based in Milan, London and Washington, DC, has…
Companies Dubai merges two of its biggest developers Two of Dubai’s biggest developers, Nakheel and Meydan, are to merge under the umbrella of Dubai Holding, the investment company owned by Mohammed bin Rashid al-Maktoum, the emirate’s ruler. The…
News China halts local projects as municipal debt hits $13 trillion Beijing has told a dozen local governments to halt or delay infrastructure projects to limit debt increases, Reuters reports. Local governments in China have some autonomy in how they implement…
News ‘Enough is enough’: Property giant Evergrande ordered to liquidate A judge in Hong Kong today ordered one of China’s biggest property developers, Evergrande, to liquidate in light of its more-than $300bn debt burden and failure to come up with…
News Japanese home manufacturer buys US housebuilding giant MDC for $4.9bn Japanese house manufacturer Sekisui House has agreed to buy US housebuilding giant MDC Holdings for $4.9bn. Sekisui House said the acquisition would make it the fifth largest housebuilder in the…
Companies Sweco snaps up Dutch firm, Econsultancy Stockholm-headquartered Sweco has bought Dutch firm Econsultancy to meet what it believes to be growing demand for environmental services in Europe. Econsultancy’s 200 staff will join Sweco Netherlands’ 1,900 engineers,…
Companies France’s Assystem acquires India’s L&T Infrastructure Engineering France-headquartered engineer and project manager Assystem has acquired India’s L&T Infrastructure Engineering, a subsidiary of the Larsen & Toubro group. L&T Infrastructure Engineering employs 431 people and saw revenues of…
News Skanska sells $115m stake in New York’s LaGuardia airport Swedish contractor Skanska is selling its 32% stake in LaGuardia Gateway Partners to fellow stakeholders Vantage Airport Group of Canada and French investor Meridiam. LaGuardia Gateway Partners is responsible for…
News Ferrovial sells Heathrow stake for $3bn Spanish construction group Ferrovial yesterday said it had agreed to sell its 25% stake in FGP Topco, the parent company of Heathrow Airport Holdings, for £2.4bn ($3bn). There are two…
Companies ACS to sell to sell its Clece services unit Spanish contractor ACS, Europe’s third largest construction group after Bouygues and Vinci, has hired French banking group Société Générale and Bank of America to sell its services unit, Clece, newspaper…
Companies Hitachi Rail cleared for €1.6bn Thales acquisition by European Commission The European Commission has given a green light to Hitachi Rail’s €1.6bn acquisition of Thales Ground Transportation Systems. To make the deal possible, Hitachi is divesting its signalling businesses in…
News Vinci team takes 49% stake in Poland’s new airport company A team of Vinci Airports and Australia’s IFM Global Infrastructure Fund has been chosen as preferred investor for Poland’s new international airport. They were picked by Centralny Port Komunikacyjny (CPK),…
News Japan’s Sumitomo Forestry to buy US’ JPI for $215m Japanese wooden housing and materials company Sumitomo Forestry has spent $215m to acquire a majority stake in US housebuilder JPI. JPI will keep its name and maintain its headquarters in…
Companies SNC-Lavalin sells Scandinavian unit in move away from traditional contracting Quebec-based contractor SNC-Lavalin has announced plans to sell the Scandinavian engineering services division of its Atkins subsidiary to French consultant Systra for a little over US$100m. The disposal is the…