New Zealand's Fulton Hogan is reportedly about to buy a half share in Stabilised Pavements of Australia. Photo / File
New Zealand-based roadbuilder Fulton Hogan is set to buy a 50 per cent stake in New South Wales road contractor Stabilised Pavements of Australia (SPA), according to a report in the Australian Financial Review's "Street Talk".
Fulton Hogan's Australian management told staff on Friday the company was negotiating for the
SPA stake, the paper said.
Staff were told the transaction would be formalised in the "near future".
SPA would retain its structure and branding but its 200-plus employees would become part of Fulton Hogan's wider business, AFR said.
