Downer completes sale of Australian Transport Projects
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Media/ASX and NZX Release
20 June 2023
DOWNER COMPLETES SALE OF AUSTRALIAN TRANSPORT PROJECTS BUSINESS
Downer EDI Limited (Downer) announced today it had completed the sale of its Australian Transport
Projects business to DT Infrastructure Pty Ltd, a Gamuda Berhad group company (Gamuda).
Whilst the parties have satisfied the majority of the Conditions Precedent, including Foreign Investment
Review Board (FIRB) approval, there remains a number of customer consents outstanding at the date of
completion. These contracts will remain with Downer until the consents are received.
As announced previously, the sale price represents an enterprise value of $212 million with the majority of
the sale 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 Chief Executive Officer of Downer, Peter Tompkins, said completion of the Australian Transport Projects
sale was an important milestone in the company’s portfolio simplification strategy.
“Going forward in the transport sector, Downer will concentrate on enhancing its market leading positions in
rollingstock, road maintenance and New Zealand infrastructure delivery,” Mr Tompkins said.
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:
Media: Mitchell Dale, General Manager Corporate Affairs +61 448 362 198
Investors: Adam Halmarick, Group Head of Investor Relations +61 413 437 487
Downer EDI Limited
ABN 97 003 872 848
Triniti Business Campus
39 Delhi Road
North Ryde NSW 2113
1800 DOWNER
www.downergroup.com
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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