Punj Lloyd’s subsidiary - Sembawang Engineers and Constructors has kicked off the New Year with a proposal to acquire the construction businesses of Macmahon Holdings, a leading Australian contract mining and construction company listed on the ASX. The two-part offer is being made through its wholly-owned subsidiary, Sembawang Australia.
The first part (Part A) of offer covers purchase of Macmahon's construction businesses as going concerns or as a separate stand-alone offer, while the second one (Part B) a counter proposal to the Asset Purchase Agreement (APA) made by Leighton Holdings, on identical terms, for an additional consideration of AUD 5 million.
Both these separate offers are subject of satisfactory due diligence and Sembawang board approval by January 31, 2013. Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.