Macmahon Holdings has received a fresh offer for its construction projects from Sembawang Australia.

Macmahon has already struck a deal with Leighton Holdings over the sale of its troubled construction business and has rebuffed previous offers by Sembawang.

On Thursday, Macmahon said it had received another offer from Sembawang valuing the construction business at $35 million.

"The board is considering the proposal and will continue to keep the market informed in accordance with all legal and regulatory requirements," Macmahon said in a statement.

In a letter to Macmahon, Sembawang said it was prepared to make an unconditional offer, subject only to the execution of a formal sale and purchase agreement with Macmahon.

"Sembawang anticipates that the sale agreement will be on consistent terms as the agreement entered into with Leighton, subject to any required alterations that may be required in order to substitute Sembawang as the purchaser," the letter said.

"For the avoidance of doubt, the offer is not subject to due diligence, finance, board approval, any regulatory or shareholder approvals or any other conditions."

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel