Under the agreement, expected to be completed by June, CCI’s businesses and operations will become part of the worldwide Bureau Veritas group.
CCI chairman Peter Murray said he was confident that CCI would continue to strengthen its position in each of its operating sectors and provide expertise and specialist services at the highest level.
Subject to the findings of an independent expert, the CCI board of directors will recommend that shareholders support the proposal in the absence of a better offer.
In June 2006, London City Equities, CCI's largest shareholder (13.55%), rejected a takeover offer of 31c per share by industrial firm Campbell Brothers.
CCI Holdings listed on the Australian Stock Exchange in 1991 and operates through subsidiaries CCI, CCI Engineering and CCI Pope with operations in New South Wales and Queensland. The company's international subsidiary has offices in Ukraine and Indonesia.
