STRABAG SE Targets Australian Market with Georgiou Group Acquisition

STRABAG SE is set to enter the Australian construction market through the acquisition of Georgiou Group Pty Ltd, a key player in the building and civil construction sector in Australia. The acquisition aims for a full takeover, with STRABAG poised to acquire 100% of Georgiou's shares. The deal, valued in the low three-digit million euro range, is pending completion and approval from STRABAG's Supervisory Board and Australia's Foreign Investment Review Board (FIRB).

The acquisition will be financed using STRABAG's existing cash reserves. The transaction is intended to take effect retroactively from June 30, 2024. Georgiou generates an annual turnover of approximately €790 million, and its experienced management team will remain in place post-acquisition, ensuring continuity in the Australian market.