Refinery at night
Refinery at night


Sale of one of Australia’s largest engineering construction companies

Adviser on CIMIC's $A1.15 billion sale of John Holland.

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Sector Industrials
Sub-sector Construction
Location Australia, China


John Holland, one of Australia’s largest engineering construction companies, with operations across Australia, New Zealand and South East Asia, was sold to CCCC International, a subsidiary of China Communications Construction Company.


Macquarie Capital advised CIMIC Group Limited (formerly Leighton Holdings), John Holland’s parent company, on the $A1.15 billion sale, representing Australia’s largest whole company sale in the construction sector since 2010.

The team devised an innovative sales process accommodating multiple purchase structures, and utilised its extensive relationships, particularly in China.


Competitive tension

was created by strategically combining the sales process and relationships

Substantial premium

The transaction achieved a sale price representing a substantial premium to CIMIC’s trading multiple

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