Latest news with #RobertsCo
Arabian Business
6 days ago
- Business
- Arabian Business
Australia
AED47 million recapitalisation secures over 700 jobs as Arada strengthens position in Australia; move lays groundwork for Roberts Co to eventually expand into the UAE
The Age
15-05-2025
- Business
- The Age
Murdoch mums and bubs hospital hits another hurdle as builder goes bust
Murdoch Women and Babies Hospital builder Webuild has revealed it purchased the interest of its joint venture partner, Roberts Co, weeks before the company was placed in voluntary administration. News of Roberts Co's collapse this week cast doubt over the ability of the Italian construction giant to build the $1.8 billion facility after it and Roberts Co were put in the hot seat in December. Roberts Co, owned by billionaire Andrew Roberts, was placed in administration earlier this week. In a statement, Webuild downplayed Roberts Co's stake in the WA Life joint venture, and revealed it had purchased its interests a few weeks ago, noting the company was in financial distress. A spokeswoman said the purchase was made with the WA government's permission and that Webuild was close to announcing a deal. 'Since being named as preferred [builder] in December 2024, WA Life and the state government have been working closely and collaboratively to finalise the contract,' she said. 'During this period, Roberts Co, who held a minor participation interest in WA Life, have advised that they wished to withdraw from the WA Life team. 'Both the state and WA Life have agreed to this request, whilst ensuring that all critical resources continue to be available for delivery. 'Over recent months the state and Webuild as WA Life have continued negotiations, in the same open and collaborative manner, and are close to finalising all aspects of the contract for the new hospital facilities
Sydney Morning Herald
15-05-2025
- Business
- Sydney Morning Herald
Murdoch mums and bubs hospital hits another hurdle as builder goes bust
Murdoch Women and Babies Hospital builder Webuild has revealed it purchased the interest of its joint venture partner, Roberts Co, weeks before the company was placed in voluntary administration. News of Roberts Co's collapse this week cast doubt over the ability of the Italian construction giant to build the $1.8 billion facility after it and Roberts Co were put in the hot seat in December. Roberts Co, owned by billionaire Andrew Roberts, was placed in administration earlier this week. In a statement, Webuild downplayed Roberts Co's stake in the WA Life joint venture, and revealed it had purchased its interests a few weeks ago, noting the company was in financial distress. A spokeswoman said the purchase was made with the WA government's permission and that Webuild was close to announcing a deal. 'Since being named as preferred [builder] in December 2024, WA Life and the state government have been working closely and collaboratively to finalise the contract,' she said. 'During this period, Roberts Co, who held a minor participation interest in WA Life, have advised that they wished to withdraw from the WA Life team. 'Both the state and WA Life have agreed to this request, whilst ensuring that all critical resources continue to be available for delivery. 'Over recent months the state and Webuild as WA Life have continued negotiations, in the same open and collaborative manner, and are close to finalising all aspects of the contract for the new hospital facilities
ABC News
15-05-2025
- Business
- ABC News
Builder picked for new WA maternity hospital enters voluntary administration
One of the joint venture partners chosen to build Perth's new maternity hospital has entered voluntary administration after months of uncertainty, but the Western Australian government is adamant the project remains on track. Global management firm FTI Consulting has been appointed to examine the financial position of builder Roberts Co and its parent entity, RCAH Group. Roberts Co was chosen alongside European construction giant Webuild as joint venture partners for the hospital in December 2024, tasked with building a replacement for the ageing King Edward Memorial Hospital (KEMH). The government wants the $1.8 billion Women and Babies Hospital to be co-located with Fiona Stanley Hospital (FSH) in Murdoch. But RCAH Group was recently wound down, with its New South Wales arm sold to a Middle East developer. The Victorian arm of the business entered administration in March, while the WA branch followed suit last week. Construction of the hospital had been due to begin later this year, but the loss of Roberts Co is likely to force the government into searching for a new builder to partner Webuild, which has a 70 per cent stake in the project. Health Infrastructure Minister John Carey, who confirmed the departure of Roberts Co from the project, has indicated that process is already underway. "The procurement process and engagement with Webuild continues to progress well and the Government will make some important announcements soon," Mr Carey said in a statement. In a statement, FTI Consulting confirmed Roberts Co had also sold its WA business interests, and administrators would examine those transactions before it reports to creditors. "We are aware there is interest from stakeholders of the business to propose a deed of company arrangement (DOCA) with the view of providing a better return to creditors in a timely manner, which will be considered in due course," the statement said. The state government announced the hospital project in April 2023, saying the facility would be built at FSH and would open its doors by 2029. That raised concerns among clinicians about travel distances between the new campus and Perth Children's Hospital, with KEMH's former head of anaesthesia Tim Pavy claiming lives would be at risk. The then-WA health minister Amber-Jade Sanderson downplayed those fears, saying the hospital would include improved neo-natal facilities. The Liberals entered the state election also criticising the plan and claiming babies would die as a result, saying they would build the hospital on a car park site at QEII in Nedlands. The Australian Medical Association WA said it wanted maternity, paediatric and adult medical services to be "tri-located" at one site. Roberts Co is also the builder behind luxury Scarborough apartment complex The Dunes Beachfront.
Sydney Morning Herald
14-05-2025
- Business
- Sydney Morning Herald
WA news LIVE: Perth women's and babies' hospital builder in administration
Latest posts Latest posts 9.44am Mums and bubs hospital builder enters administrations The builder selected to construct the WA government's new women's and babies' hospital has collapsed, throwing the project into turmoil. Construction giant Roberts Co, which was in a joint venture with Webuild, has been placed in voluntary administration and withdrawn from the hospital project. In a statement, Health Infrastructure Minister John Carey confirmed the company's withdrawal, but said the project was continuing to progress to schedule: The government can confirm that Roberts Co has voluntarily withdrawn from the WA Life consortium project venture with Webuild. The procurement process and engagement with Webuild continues to progress well and the government will make some important announcements soon. The project continues to progress to its schedule. The hospital had already faced pushback from members of WA's medical community over its new location alongside Fiona Stanley Hospital in Murdoch, which would mean a 20-minute drive to Perth Children's Hospital for newborns needing urgent specialist care. We'll bring you more on the story as it progresses today. 9.44am What's making news across Australia Here are some other headlines from across the country this morning: Prime Minister Anthony Albanese has outlined a second-term agenda for easing division and 'progressive patriotism' that can unite the country. Albanese had an unscheduled meeting with Indonesia's President Prabowo Subianto last night, and trade talks are set to be held today. The vote count has tightened in the Melbourne seat of Goldstein, in which Liberal Tim Wilson has already claimed victory, giving teal independent Zoe Daniel a glimmer of hope. The property market received a 'sugar hit' after interest rates were cut earlier this year, driving house prices up. More horrific reports of abuse and neglect at daycare centres in Sydney have emerged. The so-called 'climate wars' have been revived as Nationals reiterate their opposition to deep emissions cuts as the government forges on with its net zero targets. New evidence from a muddy creek in Victoria has rewritten our understanding of the dawn of life, showing four-legged creatures evolved far earlier than we thought.
