A mining services company will unquestionably seize control of a competitor.
Thiess Group Investments recently confirmed its $367.3 million takeover bid for MACA has become unconditional. This means the buyer will purchase all remaining 55.7 per cent of shares in the target company no later than 7 October 2022.
MACA’s board of directors agreed not to terminate the bid implementation deed, allowing the offer to proceed as planned.
AMR can reveal the latest deal will effectively change management of the following Mining West contracts that MACA acquired from Downer EDI back in early 2021:
- Ansteel’s Karara Iron Ore Project, 200km southeast of Geraldton
- CITIC Pacific Mining’s Sino Iron Project, 81km southwest of Karratha
- Gold Road Resources’ Gruyere Gold Project, 500km northeast of Kalgoorlie-Boulder
- Fortescue Metals Group’s Eliwana Iron Ore Project, 300km southwest of Port Hedland.
“We are happy to declare the offer unconditional and welcome MACA into the Thiess Group. We truly look forward to working with the MACA team, clients, communities and stakeholders,” Thiess executive chair and CEO Michael Wright said in a public statement.
MACA appointed Salient Corporate as corporate adviser, Thomson Geer as legal adviser and Euroz Hartleys as corporate broker.
Thiess was advised by Macquarie Capital (Australia), Lisle Group, and Squire Patton Boggs law firm.
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