The cash receipt of $2,2bn is a fantastic result. The original estimate was $1.7bn to $1.9bn, so 29% higher than the $1.7bn.
Today's market cap is only $7.8bn, so Theiss at $4.3bn was 50% of the value.
This puts CIMIC in a very strong position, particularly with the likelihood of significant stimulus happening.
Ann: CIMIC GROUP COMPLETES SALE OF 50% OF THIESS, page-2
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