SYDNEY: Downer EDI Limited said Tuesday it has agreed to sell its 49% stake in the Keolis Downer joint venture to French transport operator Keolis Group, in a move that sharpens Downer’s strategic focus and simplifies its portfolio. The transaction values the joint venture at $132 million on an enterprise basis. Downer is set to…
AUCKLAND: Downer EDI Limited today announced it had been awarded a road maintenance contract by Victoria’s Department of Transport and Planning valued at an estimated $320 million over a maximum term of eight years. The contract begins in July 2024 for an initial four-year term, with the option for two two-year extensions. Under the contract,…
SYDNEY: Downer EDI Limited entered into an agreement to sell its tyre management business (Otraco) to Bridgestone Corporation (Bridgestone). The sale price represents an enterprise value of $79 million, a news release said. Bridgestone, which was established in 1931 and is listed on the Tokyo Stock Exchange, is a global company with operations in more…
AUCKLAND: Downer EDI Limited has been awarded a $245 million contract by ElectraNet Pty Ltd to upgrade the existing electricity transmission network supplying the Eyre Peninsula in South Australia and to upgrade electricity substations, a news release said. Downer will commence work under the contract at the end of March 2021 and the new transmission…
AUCKLAND: Downer EDI Limited announced that it had completed the transition of underground mining services at OZ Minerals’ Carrapateena mine to Byrnecut Australia. As announced on 20 January 2021, the transition included the transfer of equipment from Downer to Byrnecut. Downer confirms it has received $56 million (representing book value) for the sale of plant…
AUCKLAND: Downer EDI Limited announced today it had completed the sale of its Open Cut Mining West business to MACA Limited. As announced on 15 December 2020, Downer will receive over $200 million in cash proceeds as a result of the sale. Downer has received an initial payment of $109 million and will receive an…
AUCKLAND: Downer EDI Limited announced that underground mining services at OZ Minerals’ Carrapateena mine will transition from Downer to Byrnecut Australia. The Chief Executive Officer of Downer, Grant Fenn, said the transition was another step in Downer’s strategy to exit its capital-intensive Mining businesses and focus on its Urban Services strategy. “Downer’s exit from Underground…
AUCKLAND: Downer EDI Limited has been awarded a Field Services contract by Telstra Corporation Limited valued at an estimated $330 million over a maximum term of five years. The contract begins in January 2021 with an initial four-year term, with one extension option of up to one year. Under the contract, Downer will provide services…
AUCKLAND: Downer EDI Limited has entered into an agreement to sell its Western Australian open cut mining business (Open Cut Mining West) to MACA Limited (MACA). The sale results in the transferring of certain assets (including fleet and inventory) and liabilities, and the novation of the existing contracts, to MACA. As a result of the…
WELLINGTON: Downer EDI Limited has entered into an agreement to sell 70% of its Laundries business to an entity established by Australian private equity firm, Adamantem Capital, a news release said. Under the agreement, Downer will sell a 70% interest in Laundries and receive total proceeds of approximately $155 million on a cash and debt…
WELLINGTON: Downer EDI Limited has entered into an agreement to sell its blasting services business (Downer Blasting Services) to Enaex S.A. The sale price represents an enterprise value of $62 million. Enaex S.A. is a subsidiary of the Chilean company Sigdo Koppers Group, which has operations in five continents, and is the largest producer of…