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Engineer UGL exits share market

AAP logoAAP 28/12/2016

Shares in engineering and maintenance firm UGL will no longer be traded on the share market after construction giant CIMIC moved to take complete ownership.

CIMIC's $524 million off-market takeover was given the green light by UGL's board in early November, and the company formerly known as Leighton Holdings recently took its ownership level past 90 per cent.

CIMIC has since exercised its right to compulsorily acquire all remaining UGL shares, and they will were suspended from market trade at the close of Wednesday's session.

UGL shares ended the day up 11 cents - a 3.1 per cent gain - at $3.68.

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