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Macmahon to Sell up to 50% Stake in Queensland Accommodation Village

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Macmahon (ASX:MAH) agreed to sell up to a 50% interest in the Homeground workforce accommodation village in Queensland to Allcap Securities, the majority owner of Inter-Port Global Consolidated, based on the asset's AU$52 million book value, according to a Monday filing with the Australian bourse.

The initial sale covers the acquisition of a 20% interest, with Allcap holding an option to acquire a further 30% interest by December 2029, the filing said.

The company also partnered with Allcap to collaborate on workforce accommodation, civil contracting and infrastructure opportunities linked to Inter-Port Global's proposed development activities in Gladstone and Central Queensland, per the filing.

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