[ATTACH] More on BGC sale : “Buckeridge sons, stepson step back...

More on BGC sale :

“Buckeridge sons, stepson step back from BGC Group roles, with sale of building and materials construction businesses on indefinite hold
Daniel NewellThe West Australian
Thursday, 28 February 2019 12:01PM....
......
.......The sale process update also noted that Macquarie Capital, which won the race earlier this year to advice BGC on the divestments, would explore options for BGC Contracting. The business has 2000 staff working across mining, maintenance and civil construction projects worth a combined $1.7 billion.

Options include a potential sale of all or part of the business, or alternative operating models and structures.

The BGC Group, one of Australia’s biggest privately owned business empires, announced last May that its assets would be put on the market as part of a staged sale process”......
https://thewest.com.au/business/con...-businesses-on-indefinite-hold-ng-b881120944z




“BGC pulls plug on construction business sale amid property downturn
By Paulina Duran and Hamish Hastie
February 28, 2019 — 3.14pm

......
But after a review amid Australia's sharpest property downturn in a generation, the board decided to halt the process and Macquarie recommended to proceed only with the possible sale or divestment of its contracting business, which includes mining maintenance and construction units, chairman Neil Hamilton said on Thursday.

"This is not a market in which anything near optimal valuation could be considered, so we are just turning it off and getting on with running the business," Mr Hamilton said. "In a reasonable market, we will revisit the motion."
https://www.smh.com.au/business/com...e-amid-property-downturn-20190228-p510x7.html