Frydenberg Blocks $300m Chinese Bid for Probuild

Image: Elizabeth North. Source: PDG The highly-anticipated acquisition of Probuild has been rejected by Treasurer Josh Frydenberg, who argued the sale to China State Construction Engineering Corporation posed a ‘risk to national security and to Australia’s interest.’ Frydenberg blocked the sale on the grounds that Probuild is a key player in sectors crucial to Australia’s economic and social well being,…