BGC pulls plug on construction business sale amid property downturn

BGC was entirely owned by founder Leonard Buckeridge since its establishment in 1960, and came to dominate residential and commercial construction in Western Australia state.

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After Buckeridge died in 2014, the company passed to his family. The family wanted to sell the businesses to execute Buckeridge’s will, and asked the investment bank to help with that process, Hamilton said.

Its business units span residential and commercial construction, building products, contract mining, engineering and property management, and generate over $2.5 billion in revenue, the company has said.

BGC still expected to sell non-core property assets, including buildings in the central business district as well as suburban buildings worth «many hundreds of millions», Mr Hamilton said.

Источник: Theage.com.au

Источник: Corruptioner.life

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