Downer Group acquired KHSA from Kier Group for A$43.7m.

Downer Group, an integrated services company that designs, builds and sustains assets, infrastructure and facilities for customers in Australia and New Zealand, acquired KHSA, a infrastructure and business services, from Kier Group, a leading infrastructure services, buildings and developments & housing group, for A$43.7m. The consideration will be satisfied in cash on completion. The disposal is expected to result in a profit of c.£15m, subject to post-completion adjustments. The proceeds from the sale will be used to accelerate the reduction of Kier's net debt.