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ACCIONA completed the acquisition of Lendlease Engineering for $123m.

Synopsis

ACCIONA, a Spanish multinational conglomerate dedicated to the development and management of infrastructure and renewable energy, completed the acquisition of Lendlease, the Australian property and infrastructure group, to acquire the ongoing business of Lendlease Engineering for $123m. The agreement comprises eight key projects: Southern Program Alliance, Southern Program Alliance AWP1, Ballarat Line Upgrade, WestConnex 3A, Western Sydney International Airport, Pacific Highway W2B, Gawler Rail and The Northern Road Upgrade. “The agreement will bring together a strong domestic team with truly global experience at a time when demonstrated capability and bench strength to deliver on Australia’s significant infrastructure pipeline is at a premium. The range and scale of projects in this market is growing and companies with strong domestic capability and expertise are needed to meet the challenge,” Bede Noonan, ACCIONA Managing Director for Infrastructure in Australia and New Zealand.

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