Ferrovial is looking beyond Spain to Australia. It is vying for an Australian builder and, at the same time, has launched a hostile bid for an Australian services firm.

Ferrovial is competing with France’s Vinci and reportedly an Asian contender for the Australian operation of U.K- based builder/engineer Laing O’Rourke. Laing O’Rourke Australia (LOA), launched 10 years ago, has become the largest privately owned Australian builder of roads and railways where Australia is directing billions of dollars. After reporting a post tax profit of A$142 million (US$110 million) in the 12 months to March 2015, LOA could sell for more than A$1 billion (US$770 million).