DGAP-Adhoc: HOCHTIEF Aktiengesellschaft: CIMIC in exclusive negotiations for Thiess equity partner
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DGAP-Ad-hoc: HOCHTIEF Aktiengesellschaft / Key word(s): Disposal
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. |
| 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 protected] |
| 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 |
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1104535 29-Jul-2020 CET/CEST
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