Why the CIMIC (ASX:CIM) share price is pushing higher

The CIMIC Group Ltd (ASX: CIM) share price is edging higher on Thursday following the release of a positive announcement.

At the time of writing, the engineering company’s shares are up 0.25% to $25.15.

What did CIMIC announce?

This morning CIMIC provided an update on the sale of 50% of its Thiess business to funds advised by Elliott Advisors.

Elliott is one of the oldest fund managers of its kind under continuous operation and manages more than US$40 billion in assets. This includes equity positions in private and listed companies in Australia and globally.

Thiess delivers open cut and underground mining in Australia, Asia, Africa and the Americas. It provides services to 25 projects across a range of commodities and has a…