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Symal Group Completes Nearly AU$51 Million Acquisition of Shamrock Civil

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Symal Group (ASX:SYL) has completed the acquisition of 100% of Queensland-based defense and resources contractor Shamrock Civil for AU$50.8 million, comprising AU$34.7 million in cash and AU$16.1 million in deferred consideration, according to a Wednesday Australian bourse filing.

Shamrock will be consolidated into the company's financial results as of Sept. 1 and is expected to be earnings-per-share accretive in its first year, per the filing.

The deal strengthens the company's national defense platform, expands its resource capabilities across Queensland, South Australia and the Northern Territory, and positions the group to pursue major defense and infrastructure opportunities, the filing added.

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