Deal due to be formally completed next week
Strabag’s planned takeover of piling contractor Van Elle for £59m has been given the legal rubber stamp.
The deal, first announced over two months ago, was sanctioned by the court earlier today with Van Elle’s shares set to be suspended from trading on AIM on Monday morning with the deal becoming effective later that day.
The £20bn turnover, Austrian-based Strabag is targeting growth in the UK and currently working on major infrastructure schemes such as HS2 and the £3bn Haweswater Aqueduct Resilience Programme in north-west England.
Van Elle listed in 2016 and is one of the UK’s largest ground engineering and geotechnical contractors with a turnover of £130.5m and employing 650 staff.
No comments yet