https://www.miningweekly.com

Cimic gains majority interest in Sedgman

Cimic gains majority interest in Sedgman

Photo by Bloombeg

11th March 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Cimic has started the compulsory acquisition of the remaining shares in takeover target Sedgman, after gaining an interest of more than 90%.

Cimic in January announced its intention to launch a takeover for Sedgman, offering the company’s other shareholders A$1.07 a share for their interest in the mining services provider.

Earlier this month, the offer was amended to 94.7c a share in cash for the Sedgman shares, to take into account a fully franked dividend of 12.3c a share declared by Sedgman in February.

Cimic had been an investor in Sedgman for about 15 years, and its global mining contractor Thiess had joint ventured with Sedgman to deliver engineering projects.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 0.788s - 110pq - 2rq
Subscribe Now