Announced
Completed
Financials
Sources
Tags
Private
business services
infrastructure
Friendly
Acquisition
Single Bidder
Completed
Australia
Business Process Outsourcing
Synopsis
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.
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