The hawks are circling as BGC sale enters final stages
The AFR is today reporting that the sale process of BGC Contracting is entering its final stages with a number of parties involved in due diligence. Macquarie Capital is reportedly hosting Emeco and possibly India-based AvidSys Group through the process with NRW sitting on the sidelines but apparently eager to pick up some parts of the business. Binding offers are expected in the next couple of weeks.
The process comes on the back of BGC announcing in August that it had been awarded the early bulk earthworks and civil package at Rio’s West Angelas C&D Deposits expansion project.
People may recognise AvidSys Group based on its recent swoop to acquire pieces of the RCR Tomlinson business after it entered administration. The group has a head office in Perth and operations in India, Australia, Russia, Kazakhstan and the US including: technology, commodity trading, construction and business consulting.
Read more at the AFR here.