Elliott Advisors, an American investment management firm, completed the acquisition of a 50% stake in Thiess, a mining company based in South Bank, Queensland, Australia, from CIMIC, an Australian multinational contractor, for $1.6bn. “The sale agreement reflects Thiess’ ongoing strategic importance as a core activity for CIMIC. It capitalises on the robust outlook for the mining sector and, together with Elliott, we will pursue market opportunities in line with Thiess’ growth and diversification strategy,” Marcelino Fernández Verdes, CIMIC Group Executive Chairman.