Business
Australia’s trade relationship with China dealt another blow after building contractor bid falls through – 7NEWS.com.au
National security concerns have thwarted an acquisition bid for one of Australia’s biggest building contractors.
Australia has reportedly moved to knock back a Chinese $300 million acquisition bid for a major building contractor.
State-owned China State Construction Engineering Corporation lodged a bid for the Australia-based company Probuild.
Probuild is 88 per cent owned by South African company Wilson Bayly Holmes-Ovcon, which reported the deals collapse in a statement late on Monday night.
It said Australia flagged national security concerns as one of the key reasons for the deals collapse.
The bid was…
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