New road for Clough

OWNERSHIP of the Western Australian-based Clough engineering business is set to pass into South African hands following yesterday's announcement by Clough family interests that they would sell down their stake in the company.

Subject to general shareholder approval, the Clough family will initially divest a 14% stake in the company to South Africa's Murray & Roberts for $40.8 million, cutting its interests to 39.85%.

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