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DOWNER EDI LIMITED — Capital/Financing Update 2010
Jun 29, 2010
64784_rns_2010-06-29_5e24a444-c776-487f-b4e7-868a989a9972.pdf
Capital/Financing Update
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Company Announcements Platform
Australian Securities Exchange and NZX
30 June 2010
DOWNER ANNOUNCES SALE OF CENTURY DRILLING
Downer EDI Limited (Downer) today announced the sale of the company’s remaining 49% of MB Century Drilling, an oil, gas and geothermal drilling business, to Mohamed Al Barwani Holding Company LLC (MB Holding).
Managing Director and CEO, Geoff Knox said: “We are very pleased to complete the sale of our investment in Century and the repayment of related shareholder loans. The initial 51% of MB Century was sold to MB Holding in 2007, along with a call option over the remaining 49%.”
The related transactions, including repayment of shareholder loans, results in a cash inflow of approximately $88 million and following the previously disclosed impairment provision of $10 million, results in a pre-tax gain of $5 million.
CONTACT DETAILS
Investors: Ross Moffat, Executive General Manager Investor Relations Media: Maryanne Graham, Group General Manager Corporate Affairs
T: +61 412 256 224 T: +61 407 252 230
Downer EDI Limited (www.downeredi.com) is an Australian top-100 company that provides comprehensive engineering and infrastructure management services to the public and private transport, energy, infrastructure, communications and resources sectors, across Australia, New Zealand, the Asia Pacific region and the United Kingdom.
T +61 2 9468 9700 F +61 2 9813 8915 W downergroup.com
Downer EDI Limited ABN 97 003 872 848
Triniti Business Campus 39 Delhi Road North Ryde NSW 2113 PO Box 1823 North Ryde NSW 2113