Broadspectrum NewsBroadspectrum, Ferrovial’s Australian services subsidiary, is sold to Ventia, subject to standard conditions and regulatory approval.

Ventia is an infrastructure services provider in Australia and New Zealand and brings more than thirty years of industry knowledge in services such as telecommunications, infrastructure and utilities1.

The sale, which covers Broadspectrum’s businesses in Australia and New Zealand, is for a total of AU$485 million2. When complete the transaction will combine two highly complementary and successful organisations and will fortify a variety operational and maintenance services to a broad range of public and private sector companies.

The sale is expected to close early in 2020.

 


1 Sourced: https://www.ventia.com/news-and-insights/ventia-signs-agreement-to-purchase-broadspectrum

2 Sourced: http://www.broadspectrum.com/news-2019/ferrovial-sells-broadspectrum-to-ventia-for-300-million-euro-equity-value