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A unit of China Communications Construction is buying Australian construction firm John Holland for A$953.1 million (HK$6.1 billion), boosting its Hong Kong-traded shares in morning trading on Friday.
The deal was confirmed in a filing by CCCC International (CCCI) to the Hong Kong stock exchange on Friday morning.
The payment will be financed through internal cash resources and bank borrowings, according to CCCI.
CCCI ended the morning session at HK$8.45, up 0.5 per cent from Thursday’s closing price of HK$8.41. The Hang Seng Index edged up 0.1 per cent.

	The acquisition represents a significant progress in the international development strategy of the company

	CCCI statement
It had been reported on Thursday that the company was in talks to buy John Holland from Leighton Holdings, Australia’s biggest construction company.
“The acquisition represents a significant progress in the international development strategy of the company,” the stock exchange statement said. “The target company has strong competence in road, rail, tunnelling, water infrastructure, and building sectors and especially in the transportation services sector, which will bring strategic value to the company by broadening its services and businesses scope.”
CCCI said it intends to support John Holland, “financially and technically”, to bid for and deliver world-class infrastructure projects.
It also said CCCI’s “local relationships” in Southeast Asia and Hong Kong would support John Holland’s growth opportunities in these markets.
Hong Kong-based CCCI is a wholly owned subsidiary of the mainland’s leading transport infrastructure group China Communications Construction, specialising in financing and investment in infrastructure, real estate and offshore engineering industries.
John Holland provides services to the social-infrastructure, energy, resources, and industrial sectors.
 
 


China Communications Construction in A$953m John Holland deal

John Holland has extensive experience in construction and infrastructure projects in Australia. Photo: Bloomberg

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China Business