29 Oct Australian engineering group Aurecon to delist African business
Australian integrated engineering, project management and delivery group Aurecon will delist its African business from the wider group, following a proposal from the African unit to be independent.
Aurecon’s CEO William Cox said the decision to delist the African business was motivated by a feeling that ‘global models are no longer considered an advantage with clients in Africa’.
“The overwhelming vote in favour of the separation reflects the collective belief of Aurecon’s owners that the separation of the Africa business from the overall group is in the best interests of both businesses,” Cox added.
The demerger will be effective from January 1st 2020, subject to regulatory approvals, when the Africa unit will assume full responsibility of the African business under the leadership of managing director Gustav Rohde.
Privately-owned Aurecon currently employs 7,500 staff (including the African business), with around 70 offices in 26 countries.
The African unit operates from offices in Angola, Botswana, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, South Africa, Swaziland, Tanzania, Uganda and Zambia.