Chapter Three

By the end of 2002, it was plain that little interest was forthcoming to join forces in Transfield Construction. Other contractors may have been interested in growing their presence in Australia, but most were not prepared to take over the current liabilities of the company, including the substantial level of performance bonding.

Up until this time, Guido and Luca were only considering a 50% divestment, not a total sale. However at the same time, they had decided not to continue to independently fund what had proven to be, for them, a very volatile investment. The catalyst for the sale came when Leighton's were approached for the 50%, but quickly responded in saying that they would be only interested in the whole business.


Page Media:

Article in the Sydney Morning Herald, 13 December 2002.