ACS Flexes Its Muscle In Australia

Spain’s ACS has sent shockwaves through Australia’s tight-knit business community this spring as it increased its majority control of Leighton Holdings Ltd., Australia’s biggest construction conglomerate, to 69.62% from 58%. ACS also reversed its role of passive investor, under which local managers were allowed to run the company, by firing Leighton’s chief executive and financial officers and replacing them with a team of Spanish executives.


About Bill Reinhardt

Editor of Public Works Financing newsletter
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