HOCHTIEF Aktiengesellschaft: CIMIC in exclusive negotiations for Thiess equity partner
CIMIC Group, in which HOCHTIEF holds a 77.1% stake, today announced that it has signed an exclusivity agreement and is in advanced negotiations with funds advised by Elliott Advisors (UK) Limited (together Elliott) regarding the potential investment by Elliott into 50% of the share capital of Thiess, the world's largest mining services provider, which would provide joint control of Thiess to CIMIC and Elliott. The introduction of an equity partner into Thiess would capitalise on the robust outlook for the mining sector and provide capital for Thiess' continued growth, while enabling CIMIC to maintain its strong balance sheet. CIMIC expects that the advanced negotiations will conclude in the coming weeks with a share purchase agreement that will be subject to the customary conditions including all regulatory approvals.
29-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: HOCHTIEF Aktiengesellschaft Alfredstraße 236 45133 Essen
Germany Phone: +49 (0)201 824-1833 Fax: +49 (0)201 824-2750 E-mail: email@example.com Internet: www.hochtief.de ISIN: DE0006070006 WKN: 607000 Indices: MDAX Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange EQS News ID: 1104535 End of Announcement DGAP News Service
1104535 29-Jul-2020 CET/CEST