| |
PRZOOM - /newswire/ -
Perth, Western Australia, Australia, 2026/01/23 - CIMIC Group is pleased to announce the successful completion of its strategic partnership transaction with Sojitz Corporation, establishing a 50:50 joint ownership structure for UGL Transport - Sojitz.com / UGLLimited.com / CIMIC.com.au. ASX: CIM
|
| |
Following regulatory approvals and the fulfillment of customary conditions, Sojitz Corporation (sojitz.com) has acquired a 50% equity interest in UGL Transport (ugllimited.com), establishing the joint ownership structure. The transaction values UGL Transport at approximately A$800 million (100% basis), with CIMIC realising cash proceeds of approximately A$500 million.
UGL Transport, a division of CIMIC company UGL, is a leading integrated transport services platform operating across Australia and New Zealand. With estimated 2025 revenue of A$1.1 billion, UGL Transport is well-positioned for continued growth.
This partnership marks a significant milestone in CIMIC’s strategy to unlock value and accelerate growth across its portfolio. Together with Sojitz, UGL Transport will broaden its service offering and expand into new markets, including Asia-Pacific opportunities.
ACS Group and HOCHTIEF Chief Executive Officer and CIMIC Group Executive Chairman Juan Santamaría said:
“Finalising this partnership with Sojitz shows the strength and future potential of UGL Transport. We look forward to accelerating expansion into new markets and technologies, while continuing to support Australia’s transport networks.”
Sojitz Managing Executive Officer, COO Aerospace, Transportation & Infrastructure Division, Masakazu Hashimoto said:
“We are honoured to officially join forces with UGL, leveraging Sojitz’s extensive expertise and networks across Asia to drive further growth for both parties.”
CIMIC will continue to own and operate 100% of UGL’s specialist engineering, industrial services, and operations across energy, resources, infrastructure, defence, telecommunications, and technology. UGL remains a market leader in power generation, renewables, transmission infrastructure, and major infrastructure projects.
About CIMIC Group
CIMIC Group (cimic.com.au) is an engineering-led construction, mining, services and public private partnerships leader working across the lifecycle of assets, infrastructure and resources projects. CIMIC Group comprises our construction businesses CPB Contractors, Leighton Asia and Broad, our mining and mineral processing companies Thiess (joint control) and Sedgman, our services specialist UGL and our public private partnerships arm Pacific Partnerships all supported by our in-house engineering consultancy EIC Activities. Our mission is to generate sustainable shareholder returns by delivering innovative and competitive solutions for clients and safe, fulfilling careers for our people. With a history since 1899, and around 24,000 people in around 20 countries, we strive to be known for our principles of Integrity, Accountability, Innovation and Delivery, underpinned by Safety.
|
