Thiess to acquire the PYBAR business of Metarock Group from AUD$65m.

Thiess, a mining services company, agreed to acquire the PYBAR business of Metarock Group, a diversified mining services group, from AUD$65m. "The agreed transaction represents a great outcome for Metarock shareholders. The purchase consideration represents compelling value for the PYBAR business, which will continue to grow as part of Thiess’ global mining services platform. The transaction significantly strengthens Metarock’s balance sheet and is expected to return the Company to a net cash position, allowing it to focus on the Mastermyne, Wilson Mining and MyneSight businesses. The transaction removes the remaining constraints over the Company’s ability to pursue the significant growth opportunities in the pipeline and represents a further key milestone in the successful turnaround of the Metarock Group,” Jon Romcke, Metarock CEO.