Macmahon buys GBF

More consolidation in the Australian contract mining market with Macmahon Holdings acquiring privately owned GBF Underground Mining Group in a deal worth up to A$101.5 million (US$70 million)

Macmahon buys GBF Macmahon buys GBF Macmahon buys GBF Macmahon buys GBF Macmahon buys GBF

Macmahon contractors working underground

Macmahon is paying A$48 million cash upfront, follow by two potential earn-out payments capped at A$53.5 million and based on performance over FY20 and FY21.