Webuild has signed the contract with the Deloitte Administrators of Clough in Australia to acquire Clough assets. Following the disclosure on December 14, 2022 and January 19, 2023, the final acquisition perimeter comprises: i) Clough’s organisation, including offices, trademarks, credentials, business references, senior management and office personnel and, ii) more than €4 billion worth of projects in backlog (as of end 2022), including the related project workforce.The integration of Webuild and Clough, that guarantees the continuity of Clough’s projects and ongoing employment for 1,100 Clough employees, will create a Group that ranks among the largest and oldest in Australia. The current projects included in the transaction are amongst the most important infrastructure projects in Australia and Papua New Guinea, and the agreement will allow the delivery for all levels of government, local communities and businesses involved. The transaction also ensures subcontractors and suppliers contracted to projects within the perimeter will be paid to complete their contracted works.
Webuild has signed the contract with the Deloitte Administrators of Clough in Australia to acquire Clough assets. Following the disclosure on December 14, 2022 and January 19, 2023, the final acquisition perimeter comprises: i) Clough’s organisation, including offices, trademarks, credentials, business references, senior management and office personnel and, ii) more than €4 billion worth of projects in backlog (as of end 2022), including the related project workforce.The integration of Webuild and Clough, that guarantees the continuity of Clough’s projects and ongoing employment for 1,100 Clough employees, will create a Group that ranks among the largest and oldest in Australia. The current projects included in the transaction are amongst the most important infrastructure projects in Australia and Papua New Guinea, and the agreement will allow the delivery for all levels of government, local communities and businesses involved. The transaction also ensures subcontractors and suppliers contracted to projects within the perimeter will be paid to complete their contracted works.
