CIMIC should be able to sell Thiess for $500m. Buyer will have to take on the lease liabilities. Good chance Thiess will be sold at price CIMIC will be comfortable with.
From The Australian:
Apollo was revealed by this column last week as a suitor of Thiess, which is the world’s largest mining services provider.
While the business is understood to be worth about $3bn, analysts believe the headline price for a sale may be closer to $500m.
One theory is that the plant and equipment of Thiess would be moved off balance sheet by CIMIC and sold in a complex structure.
CIM Price at posting:
$34.38 Sentiment: Buy Disclosure: Held
