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Chinese company withdraws bid for Australian builder after Government flags security risk – ABC News

A $300 million offer by a Chinese company to buy an Australian builder is withdrawn on the back of advice that Treasurer Josh Frydenberg and the Foreign Investment Review…

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A $300 million bid by a Chinese company to buy Australian construction firm Probuild has been withdrawn.

  • Probuild’s parent company said they were advised the Federal Government would likely reject the takeover bid on national security grounds
  • Treasurer Josh Frydenberg declined to comment on the matter when approached by the ABC
  • Probuild constructed the Melbourne headquarters of biotech firm CSL and is building the new Victorian Police headquarters

Probuild’s South African parent company, Wilson Bayly…

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Sue Gilroy