Flash Briefing: WBHO’s Probuild buyer withdraws; Murray & Roberts in Australia; SA oxygen supplies strained

By Melani Nathan 

  • WBHO has announced that the potential sale of Probuild has been halted. An unnamed buyer has withdrawn its proposed investment application in Probuild, lodged with the Australian Foreign Investment Review Board, following advice that its application would be rejected by the Federal Government on the grounds of national security. WBHO says it remains optimistic about the fundamentals of Probuild and its prospects in the Australian market and will continue to assess all opportunities for the company.
  • Murray & Roberts announced that Clough has been awarded a contract worth  AU$400m (R4.7bn) for an engineering, procurement and construction project on the Waitsia Stage 2 development project in Western Australia by Waitsia Joint Venture partners Mitsui E&P Australia and Beach Energy. The Waitsia gas field is ranked as one of the largest gas fields ever discovered onshore in Australia. The project is set to commence during the first quarter of 2021.
  • Medical-grade oxygen usage is surging in South Africa amid a second wave of coronavirus infections, leaving suppliers struggling to keep pace with demand. The rise in demand has caught hospitals and their suppliers by surprise as the authorities and the scientists advising them expected the second wave of infections to begin in February rather than November. Air Liquide and Afrox have issued force majeure notices to their industrial customers, warning that supply may be interrupted, according to Business Day newspaper.
  • Cartrack is the JSE’s biggest downward mover today, having lost almost 12%. At the end of last week, the company announced plans to delist from the JSE and file for an initial public offering on the Nasdaq stock exchange in the US.

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