Jardine Matheson Holdings (SGX:J36) has acquired the 50% it didn't already own in Gammon Construction from its partner Balfour Beatty, for 250 million pounds sterling, making it the sole owner, according to a Tuesday filing to the Singapore stock exchange.

Under the pact, the total amount will be paid in three equal tranches by Dec. 29, 2028.

Jardine Matheson will acquire the business inclusive of all future dividend entitlements and cash on the balance sheet, and the transaction is expected to be "modestly accretive" from its first year, the statement said.

The company also upgraded its earnings guidance, with the underlying earnings expected now to be between $5.50 and $5.65 per share, up from its previous guidance of $5.33 per share. This shows growth of between 3% and 6% over 2025 earnings per share, the filing said.