Australian engineering and construction firm Clough, the main contractor of the Waitsia gas expansion project, was placed into voluntary administration after a deal by its parent Murray & Roberts and Webuild fell through.
In November, Murray & Roberts entered into a sale and purchase agreement with Webuild to dispose of 100 percent of its shareholding in Clough for about A$350 million ($235 million).
Italian firm Webuild has a history of working with Clough on major projects, including a hydropower project in Eastern Australia and in Regionerate Rail.
However, Murray & Roberts and Webuild terminated the sale deal by mutual agreement, according to a statement by Clough released on Monday.
In the absence of the sale proceeding, the board …
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