ACCIONA has completed the acquisition of the main part of the ongoing business in Australia of Lendlease Engineering, a subsidiary of Lendlease, announced by the end of 2019.

The transaction, valued at AUD160 million (US$ 116 million) after closing adjustments, comprises the majority of Lendlease Engineering’s construction projects. Under the terms of the agreement, the NorthConnex, the Kingsford Smith Drive, and the Melbourne Metro projects will remain with Lendlease. The deferred consideration is payable in three tranches, the last one in June 2021.

Over the last five months the combined businesses of ACCIONA and Lendlease Engineering have already successfully secured some significant wins that include Bayswater Station Alliance (Western Australia), Kenwick Rail Freight Facility (WA), Bunbury Outer Ring Road Alliance (Western Australia, preferred proponent), Brisbane Metro Alliance (Queensland, preferred proponent), Rookwood Weir Alliance (Queensland).