NRW Holdings Limited (ASX:NWH) agreed to acquire BGC Contracting Pty Ltd. from BGC (Australia) PTY Ltd. for AUD 310 million on November 3, 2019. On November 28, 2019, NRW Holdings Limited agreed to acquire BGC Contracting Pty Ltd. from BGC (Australia) PTY Ltd for approximately AUD 120 million. As pat of the transaction, NRW Holdings Limited will also assume AUD 193.6 million of debt related to asset finance. The transaction will be funded through funds raised from placement of AUD 120 million. NRW Holdings Limited has multiple options to finance the transaction. Upon completion, BGC Contracting Pty Ltd entity will been renamed to NRW Contracting Pty Ltd in accordance with the terms of the sale agreement. The transaction is subject to final documentation and number of conditions considered customary in the transaction. The net proceeds from the deal are intended to be put towards the acquisition of BGC Contracting Pty Ltd. Transaction is expected to complete during early December 2019. The transaction is expected to be highly earning per share accretive. Longreach Capital Pty. Ltd. acted as financial advisor while Corrs Chambers Westgarth acted as legal advisor to NRW Holdings Limited. King & Wood Mallesons is acting as legal adviser in relation to the debt financing aspects of the transaction. Macquarie acted as financial advisor to BGC. Simon Reed, Dean Blumberg, Andrew Mcleana and Ed Love of Herbert Smith Freehills acted as legal advisors to NRW Contracting Pty and BGC (Australia) PTY Ltd.