CIMIC signs final documentation for sale of 50% of Thiess

Date
December 24, 2020
Categories
  • Mining and Resources
Tags
CIMIC Group today announced it had signed all relevant material documentation including financing agreements, for the sale of 50% of Thiess, the world’s largest mining services provider.

This encompasses the satisfaction of a number of conditions precedent, including the required regulatory approvals.

Transaction completion, including receipt of cash proceeds, is expected to occur prior to the end of 2020.

As previously advised, the price for 50% of the equity interest in Thiess implies an enterprise valuation of approximately A$4.3 billion (based on 100% of Thiess).
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