M&R shares dive after Australia unit enters business rescue

The shares of construction and engineering group Murray & Roberts plunged to their lowest level in more than two years after the planned sale of its stake in Australian subsidiary Clough collapsed, resulting in the company entering business rescue.

The share price fell 21.05% to R3.75 on Monday, the second-biggest loss on record, according to Infront data. The last time the share fell below R5 was in September 2020...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Italy’s Webuild drops acquisition of Australia’s CloughItaly’s biggest construction group Webuild has dropped the proposed acquisition of Australian rival Murray & Roberts's Clough. Moneyweb BusinessNews
Source: Moneyweb - 🏆 5. / 77 Read more »

More SA firms are hiring again – especially those in construction and engineering | Business InsiderMore South Africans are finding jobs, especially in the construction sector, as the country's unemployment rate cools from its record high a year ago.
Source: BISouthAfrica - 🏆 34. / 51 Read more »