• MACA emerges as potential buyer for Downer business

    Industry Insights by ECi Executive
    posted in Business News, Mining & Resources


MACA emerges as potential buyer for Downer business

MACA has expressed it’s interest in buying Downer EDI’s Western mining services division.

The company has reported that discussions with Downer are ongoing and that it would only make a binding offer if it aligned with the company strategy and delivered value for shareholders.

This is in line with the statements the company has made at its annual general meeting where it stated that the company will continue to explore and pursue growth opportunities that will deliver value to shareholders on an ongoing basis.

Perenti Global was also in line of the potential buyers for Downer’s open cut mining business earlier this year before Downer put the sales process to a halt due to the pandemic. It is reported that Downer is seeking offers of around $700 million for its mining services arm.

The contractor’s mining customers include BHP Mitsubishi Alliance (the Goonyella Riverside, Peak Downs and Blackwater mines in Queensland), Fortescue Metals Group (the Eliwana iron ore project in Western Australia), the Gold Fields-Gold Road Resources joint venture (the Gruyere gold project in Western Australia) and OZ Minerals (the Carrapateena copper-gold mine in South Australia).

Downer also announced the sale of its blasting services, the Snowden consulting business and its share of the RTL Mining and Earthworks joint venture this year.


Source: Link

Date published: 07 December 2020

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