re: murray & roberts stake ok'd PERTH - Shareholders in...

re: murray & roberts stake ok'd PERTH - Shareholders in contracting group Clough Ltd today
overwelmingly supported the acquisition of a 29 per cent stake by
South Africa's Murray & Roberts.
Under the deal, engineering contruction and manufacturing group
Murray & Roberts will inject $40.8 million into Cough in exchange
for 60 million shares.
It will also acquire a further 60 million shares from the Clough
family's McRae Investments Pty Ltd.
Clough CEO David Singleton said the alliance with Murray and
Roberts would form a linked group with a turnover of almost $3
billion a year and the ability to deal with multinational companies
on a global level.