Region. Takeover bid recommended

The Crane Group – which has facilities across Western Sydney – is today expected to recommend shareholders accept a takeover bid from New Zealand’s Fletcher Building that would value the owner of Iplex pipes and Tradelink at more than $770 million, according to The Australian Financial Review

Blacktown. $140 million investment

The Department of Planning has issued its requirements for the environmental assessment to be prepared for the redevelopment of the 17-hectare Parklea Markets site, to include a 12 storey, 336 room, 4.5 star hotel, an exhibition/convention centre and a growers market. The proposed development will have a capital investment value of around $140 million dollars and provide up to 1500 full-time employees to operate the development in any one year. The project,to be completed, in two stages, could take 3-5 years to complete. The applicant is Almona Pty Ltd, owned by Con Constantine. The Parklea Markets building is the largest indoor market in the southern hemisphere.