WERDOHL (dpa-AFX) - German transport services firm Vossloh (VOSSF.PK) said that it signed a contract through its subsidiary Vossloh Australia Pty Ltd. with the international engineering enterprise Laing O'Rourke for the acquisition of the Australian rail infrastructure company Austrak Pty Ltd.
The purchase price of the transaction as of the closing date is expected to amount to A$50.5 million or 32.0 million euros and can increase to a maximum of A$54.5 million or around 34.6 million euros over the course of the next two years, depending on business development.
The Supervisory Board of Vossloh AG has already approved the acquisition. Additional conditions must still be met for the acquisition to be completed. The transaction is above all still subject to merger control clearance by the Australian authorities. Closing is being aimed for in the third quarter of 2018.
In the future, Austrak will be part of the Tie Technologies business unit in the Core Components division.
Copyright RTT News/dpa-AFX