Downer EDI Limited (Downer) has completed the sale of its Australian Transport Projects business to DT Infrastructure Pty Ltd, a Gamuda Berhad group company (Gamuda).
The sale price represents an enterprise value of $212 million, with the majority of the proceeds received today.
Downer has agreed to defer $20 million of the proceeds until the remaining customer consents are received and the contracts novated.
The completion of the sale is an important milestone in the company’s portfolio simplification strategy.
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