Monadelphous Acquires Buildtek SpA and Maqrent SpA

  • Nov 14, 2019 AEDT
  • Team Kalkine

Monadelphous Group Limited (ASX: MND) announced it had acquired Chile-based construction and maintenance services contractor, Buildtek SpA, and plant and equipment hire company, Maqrent SpA.

Monadelphous Group acquired 75 per cent of the companies for approximately CLP 5,000 million (approximately $9.5 million) cash, with an option to purchase the remaining 25 per cent in three years’ time.

The company also acknowledged the advice and support provided by the Department of Foreign Affairs and Trade and Austrade in assisting with its entry into the Chilean market.

At AEST (12:37 PM), the stock was trading lower at $15.680, rise by 1.605 per cent from the previous close.

 

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