Australia Rejects $300M Chinese-Bid for Construction Giant Probuild
Australia Rejects $300M Chinese-Bid for Construction Giant Probuild A multi-million dollar bid by one of the world’s largest construction firms to acquire a majority stake in Australian-based Probuild has been blocked by the foreign investment regulator and Treasurer Josh Frydenberg. The almost $300 million bid by the state-owned China State Construction Engineering Corporation (CSCEC) to acquire an 88 percent stake in Probuild was rejected on “the grounds of national security” by the Foreign Investment Review Board (FIRB). According to an investor notice from current Probuild owner, So...
Source: theepochtimes.com