Downer completes sale of Open Cut Mining East

DOWNER COMPLETES SALE OF OPEN CUT MINING EAST

Downer EDI Limited (Downer) announced today it had completed the sale of its Open Cut Mining East business to BUMA Australia Pty Ltd.

As announced previously, Downer will receive approximately $150 million in cash proceeds from the transaction, subject to completion adjustments.

The Chief Executive Officer of Downer, Grant Fenn, said the sale of Open Cut Mining East was the final transaction in Downer’s divestment of its Mining portfolio of businesses. Together with the previously announced Mining and Laundries transactions, total proceeds from Downer’s divestment program amount to $778 million.


Authorised for release by Downer’s Chief Executive Officer.

About Downer
Downer is the leading provider of integrated services in Australia and New Zealand and customers are at the heart of everything it does. It exists to create and sustain the modern environment and its promise is to work closely with its customers to help them succeed, using world-leading insights and solutions to design, build and sustain assets, infrastructure and facilities. For more information visit downergroup.com.

For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470 145

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Announcement PDF