Downer buys Tenix utilities business for A$300 mln

Sun, 19 Oct 2014

By Paul McBeth Oct. 20 (BusinessDesk) - Downer EDI, the infrastructure, mining and rail building firm, has bought trans-Tasman utilities business Tenix Holdings Australia for A$300 million, which it expects will boost earnings from the first year of ownership. Sydney-based Downer has signed an agreement to buy the privately-held Tenix on a cash and debt-free basis, which it will fund through an existing bank facility, it said in a statement. The deal is expected to be completed on Oct. 31, and Downer said it will be increase earnings from...

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