Japanese conglomerate Sojitz Group has acquired a 50 per cent stake in UGL’s transport business from CIMIC Group, in a deal worth approximately $500 million in cash.
The transaction creates a 50:50 joint ownership structure between CIMIC and Sojitz, positioning UGL Transport to broaden its service offering and move into new markets. This includes pursuing Asia–Pacific opportunities in partnership with CIMIC, HOCHTIEF and ACS companies such as Leighton Asia.
UGL Transport operates as an integrated transport services platform across Australia and New Zealand, with forecast revenue of $1.1 billion in 2025. Its capabilities cover rolling stock manufacturing and maintenance, network management, transport operations, and advanced signalling and communications systems.
Masakazu Hashimoto, Sojitz Managing Executive Officer and COO of the Aerospace, Transportation & Infrastructure Division, said the company brings deep global rail expertise, including investments in North American railcar maintenance and leasing, and EPC delivery for India’s railways and the Jakarta metro.
“Following our recent strategic moves into Australia’s infrastructure and energy sectors, we are honoured to form a promising partnership with UGL, and look forward to driving growth for both organisations by leveraging Sojitz’s extensive experience and networks across Asia,” he said.
ACS Group and HOCHTIEF Chief Executive Officer and CIMIC Group Executive Chairman Juan Santamaría said the partnership reflects UGL Transport’s strength and future potential.
“Together with Sojitz, we will accelerate UGL Transport’s expansion into new markets and new technologies, including growth across Asia Pacific in collaboration with Leighton Asia, while continuing to support Australia’s transport networks,” he said.
CIMIC will retain full ownership of UGL’s specialist engineering and industrial businesses across energy, resources, infrastructure, defence, telecommunications and technology.
The acquisition remains subject to standard conditions, including regulatory approvals.
