Cimic Group (ASX:CIM) finalizes 50% sale of Theiss

Cimic Group (ASX:CIM) has now signed relevant material documentation including financing agreements for the sale of 50 per cent of Thiess, the world’s largest mining services provider.

This includes the required regulatory approvals. Completion of the transaction including receipt of cash proceeds before the end of this year.

The price is for 50 per cent of the equity interest in Thiess and implies an enterprise valuation of approximately $4.3 billion based on 100 per cent of Thiess.

Cimic Group (ASX:CIM) are trading 0.04 per cent lower at $25.06.
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Source: Finance News Network