en.Wedoany.com Reported - An Austrian construction group Strabag's £59 million acquisition of UK piling contractor Van Elle has been approved by a court. The deal was first announced over two months ago and was approved by the court earlier today. Van Elle's shares will be suspended from trading on the AIM market on Monday morning, with the transaction taking effect later that day.

Strabag, with an annual turnover of £20 billion and headquartered in Austria, is targeting growth in the UK market and is currently involved in major infrastructure projects such as the UK's High Speed 2 (HS2) and the £3 billion Haweswater Aqueduct Resilience Programme in northwest England. Van Elle, listed in 2016, is one of the UK's largest ground engineering and geotechnical engineering contracting companies, with a turnover of £130.5 million and 650 employees.

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