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TERRASSEMENTS

Vinci gets closer to Seymour Whyte in Australia

HELEN WHITMAN - ASSOCIATE EDITOR, LE 21 MARS 2017
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Vinci gets closer to Seymour Whyte in Australia
France’s Vinci Group had made an indicative takeover proposal, non-binding and conditional proposal to acquire 100% worth up to $ 126 million to Seymour Whyte Ltd. in Brisbane.

Vinci had offered a proposal valued at between $ 1.36 and $ 1.43 per share. Seymour Whyte, specializing in the roadwork, has a workforce of 460 staff operation and displays revenue in 2016 of $ 360 million up of 34% compared with 2015. The company has currently a market value of $ 97 million.

PUBLICITÉ
In last November, Watpac which is majority-owned by Belgium’s Besix group, is understood to have put several proposals to Seymour Whyte, whom had appointed advisors Investec in early 2017 and began a process of holding talks with five industry participants before entering exclusive talks with French construction Vinci.

Vinci has more than 183,000 employees, operates in more than 100 countries and has annual revenue of €38 billion ($53 billion) and an acquisition of Seymour Whyte would be the latest in a long line of foreign takeovers of Australian construction groups.



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