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Companies & Markets

Australia's CIMIC to sell 50% of Thiess to Elliott

Published Sun, Oct 18, 2020 · 10:53 PM
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[BENGALURU] CIMIC Group said on Monday it will sell half of its mining services business to activist hedge fund Elliott Management, valuing the unit Thiess at A$4.3 billion (S$4.14 billion).

CIMIC expects a pre-tax gain on the stake sale of around A$2.2 billion and a post-tax gain of around A$1.4 billion.

REUTERS

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