In May 2010, Clough closed a $2.10 per share proportional takeover offer to acquire its 31 per cent shareholding in Forge.
Clough also formed a joint venture with Forge to bid on major resources and infrastructure projects in August 2011.
The companies won an early contractor involvement contract at Hancock Prospecting’s Roy Hill iron ore project shortly after forming the JV.
Following completion of the sale announced today, Clough will no longer hold any shares in Forge.
“Clough has supported the growth of Forge as it has developed into a successful engineering and construction company over the past few years,” Clough chief executive Kevin Gallagher said in a statement.
“Forge has delivered strong growth and has been an outstanding investment for Clough.
“Clough intends to use the proceeds from the sale of the Forge shareholding to deliver shareholder value through strategic acquisitions and/or capital management initiatives.”
"Their investment is a solid endorsement of the company's growth strategy and its strong financial foundation," Mr Simpson said in a statement.
"Importantly, this sale significantly improves the liquidity of Forge's register which makes the company an attractive investment to a wider range of investors."