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DOWNER EDI LIMITED — M&A Activity 2008
Sep 2, 2008
64784_rns_2008-09-02_70a10130-f284-4133-9624-2b6e1f3e98af.pdf
M&A Activity
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Company Announcements Platform
Australian Securities Exchange and New Zealand Stock Exchange
Wednesday, 3 September 2008
DOWNER EDI ANNOUNCES AGREEMENT TO ACQUIRE EXCELL CORPORATION
Downer EDI Limited (Downer EDI) today announced it had signed a conditional agreement to acquire the maintenance and asset management components of New Zealand infrastructure maintenance and management business, Excell Corporation Limited.
Downer EDI CEO Geoff Knox said the purchase, scheduled for settlement later this month, will result in Downer EDI’s Works Division taking over 75 percent of Excell’s operations, including open space, property, water, drainage and road management services, representing revenues of over $70M.
“Excell Corporation is a natural fit with our Works Division, providing us with the opportunity to expand our existing market segment base across Australasia and capitalise on the many synergies that will be realised as a result of the acquisition,” Mr Knox said.
Transpacific Industries Group (NZ) will take over Excell’s environmental management services, which accounts for the remaining 25 percent of the business.
The future contribution of the acquired business has been incorporated in Downer EDI’s results presentation on 21 August 2008.
For enquiries please contact:
Investor Relations: Ross Moffat, General Manager - Investor Relations T: +61 2 9240 9042 M: +61 412 256 224 Media: Maryanne Graham, Group Manager Corporate Affairs T: +61 2 9240 9000 M: +61 407 252230.
Downer EDI Limited is an ASX-listed company with a turnover of A$5.6 billion. The company provides comprehensive engineering, infrastructure maintenance and management services to the public and private transport, energy, communications and resources sectors across Australia, New Zealand, Asia Pacific and the United Kingdom.
Level 3, 190 George Street T 61 2 9251 9899 Sydney NSW 2000 F 61 2 9251 1987 PO Box N692 W www.downeredi.com Grosvenor Place NSW 1220 E [email protected]
Downer EDI Limited ACN 003 872 848