Business
CIMIC reveals buyer of Thiess stake – Australian Mining
The CIMIC Group has entered into a sale agreement with Elliott Advisors to divest a 50 per cent equity interest in the world’s largest mining services provider,…
CIMIC Group has agreed to divest a 50 per cent interest in mining services provider Thiess to Elliott Advisors.
The 50 per cent interest is valued at $4.3 billion, based on the 100 per cent value of Thiess.
Elliott Advisors, which is one of the oldest fund managers of its kind, manages more than $US40 billion ($56 billion) in assets in Australia and globally.
Under the agreement, CIMIC will retain the remaining 50 per cent equity interest in Thiess with it to jointly control the mining servic…
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