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The company’s adviser, Barrenjoey, has been negotiating a $100 million-plus bid for its minerals processing unit with Perth-headquartered AvidSys Group.
PT Delta Dunia Makmur Tbk has announced that its subsidiary, PT Bukit Makmur Mandiri Utama has entered into a conditional agreement with Downer EDI Ltd to acquire Downer’s coal mining contractor business in Australia.
Downer EDI to divest Open Cut Mining East unit to Indonesia's BUMA mining-technology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mining-technology.com Daily Mail and Mail on Sunday newspapers.
Australian shares are trading lower; Z Energy agrees to Ampol takeover; API upgrades profit guidance; US crude hits seven-year high. Follow the latest here.
Bids land for Downerâs $200m mining services arm Save Share Downer Group has received offers for its up-for-sale Open Cut Mining East arm. Street Talk understands bids for the $3.8 billion companyâs Open Cut Mining East division have started flowing in, with offers around the $200 million mark. The Macquarie Capital-run auction is understood to be shaping as a three-horse race between Mark Rowsthornâs Rivet Group, Indian player AvidSys and Indonesian mining contractor Buma. Sources reckoned the international players had their noses in front, however Rivet hasnât given up and would be pitching its Australian credentials to Open Cut Mining Eastâs customers.
Downer (ASX:DOW) moves further away from mining with sale of Otraco SubscribeBe the first with the news that moves the market Integrated services provider Downer (DOW) has taken another step under its Urban Services strategy with the $79 million sale of Otraco to Bridgestone The sale is part of the company's decision to exit the capital-intensive mining sector and focus on more core industries like transport and utilities The completion of the sale, which remains subject to regulatory approval, is expected to occur before the end of this year So far, the proceeds from the sale of Downer's businesses amounts to $605 million, of which $476 million has already been received