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Spain's Ferrovial to offer $500 mln for Australian detention camp firm

Published 07/12/2015, 09:33 am
Updated 07/12/2015, 09:40 am
© Reuters.  Spain's Ferrovial to offer $500 mln for Australian detention camp firm
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SYDNEY, Dec 7 (Reuters) - Spanish construction giant Ferrovial SA FER.MC said it will offer to buy the firm which runs Australia's offshore refugee detention camps, Broadspectrum Ltd BRS.AX , formerly called Transfield Services Ltd, for A$691.8 million ($507.71 million).

In a statement before the start of trading on Monday, Ferrovial said it plans to offer A$1.35 per share in Broadspectrum in an all-cash buyout, compared to the stock's Friday closing price of 85 Australian cents. ($1 = 1.3626 Australian dollars)

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