Murray & Roberts share price soars 32% on R4bn Clough deal
Italian industrial group Webuild to buy its stake in Australian construction subsidiary Clough
08 November 2022 - 08:54
UPDATED 08 November 2022 - 20:24
Murray and Roberts (M&R) rocketed as much as 32% on the JSE on Tuesday after it said Italian industrial group Webuild agreed to buy its stake in its Australian construction subsidiary Clough for A$350m (R4bn).
The surprise announcement on the sale of the Perth-based engineering and construction business, which was at the heart of M&R’s growth strategy in Australia, sent the share price soaring before it settled 17.3% higher at R5.42 on Tuesday...
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