CIMIC selling 50% of Thiess

CIMIC is selling 50% of its mining contracting business Thiess to funds advised by UK firm Elliott Advisors in a deal that values Thiess at A$4.3 billion.

CIMIC selling 50% of Thiess CIMIC selling 50% of Thiess CIMIC selling 50% of Thiess CIMIC selling 50% of Thiess CIMIC selling 50% of Thiess

The deal with Elliot Advisors values the Thiess business at approximately A$4.3 billion.

CIMIC expects to get A$1.7-A$1.9 billion in cash from the stake sale.

Thiess delivers open cut and underground mining services in Australia, Asia, Africa and the Americas.