(06/04/2017) 

Acciona will pay 197 million Australian dollars (141 million euros) for 82.4% of the company and the three key Geotech executives will receive a 17.6% stake in the new Acciona Geotech Holding.

This new subsidiary of the Spanish company will integrate Geotech and three projects that Acciona is currently bidding on, and in the future civil work projects will be channelled into Australia and New Zealand markets through this subsidiary.

Geotech is a company with a long track record, a strongly established local footprint and a backlog in mid-sized projects in the country that have made it a highly-valued subcontractor, particularly in railway projects.