Italy’s biggest construction group Webuild has dropped the proposed acquisition of Australian rival Clough, it said on Monday.
Webuild said in a statement it had agreed with Clough‘s parent company Murray & Roberts that there was “no reasonable prospect” for the deal to reach a successful completion.Webuild, which had announced the operation last month without disclosing any financial details, said it would continue to “look for opportunities for growth, including in the Australian market”.
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