Downer paid A$55M for Hawkins adding 'significant technical capability', accounts show

Mon, 28 Aug 2017

By Rebecca Howard Aug. 29 (BusinessDesk) - Australian infrastructure and mining firm Downer EDI spent A$55.4 million snapping up local construction firm Hawkins which was in need of capital at the time of the purchase. The sale price, which was withheld at the time of the deal in March, emerged in Downer's annual report released today, showing the Sydney-based company paid A$52.6 million, with the gross consideration including A$2.8 million cash balances acquired. At the time of acquisition, Hawkins had negative working capital leading t...

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