December 23, 2019 / 6:36 AM / a month ago

Australia's Ventia to buy Broadspectrum for about $335 million

(Reuters) - Infrastructure service provider Ventia said on Monday it will buy Broadspectrum from Spanish infrastructure company Ferrovial SA (FER.MC) for A$485 million ($335 million).

Ventia, a joint partnership of CIMIC Group (CIM.AX) and private equity firm Apollo Global Management (APO.N), said the combined company will likely make revenue of more than A$5 billion.

Broadspectrum was founded in Australia and operates major assets from airports to housing.

($1 = 1.4482 Australian dollars)

Reporting by Nikhil Kurian Nainan in Bengaluru

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