Cimic, Apollo exit Ventia in $260m deal

Cimic, Apollo exit Ventia in $260m deal
Ventia has the contract to maintain Transmission Gully for 25 years. (Image: Waka Kotahi)
Oliver Lewis
Australian building giant Cimic Group has sold down its final stake in dual-listed infrastructure services provider Ventia.In an update to the New Zealand stock exchange on Tuesday, Ventia said Cimic had ceased to be a substantial shareholder.The construction giant sold 62,860,244 shares, equating to a 7.62% stake in Ventia, for A$2.71 (NZ$2.95) a share, meaning the transaction was worth A$170 million.Cimic carried out the sale alongside another Ventia shareholder, Apollo, which sold down 36,916,848 shares, also at A$2.71, for an...

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