Obayashi (TYO:1802) has agreed to acquire all the shares of Multiplex Global, a construction firm operating in Australia, the UK, and Canada, through a holding-company structure for 86 billion yen.

The acquisition aligns with the construction firm's strategy to build overseas operations that match its domestic construction business, with Australia long targeted as a key market.

Multiplex brings strong expertise in high-rise buildings, hospitals, and data centers, and the two companies previously collaborated on the Sydney 2000 Olympic Stadium.

The deal, set to close by September pending regulatory approvals, will add holding firms BCI, BBP UK II, and BBP UK III as Obayashi subsidiaries.

While Multiplex's recent earnings showed volatility from pandemic-related impacts, due diligence found no lingering concerns, and the full earnings impact for Obayashi's fiscal 2027 is still being assessed.