Thiess, a mining company of Cimic -the Australian subsidiary of ACS–, has launched a Public Acquisition Offer (OPA) for all the shares of the Australian construction company MACA for a total amount of 242 million euros.
MACA’s board of directors has already conveyed a favorable opinion on the operation, recommending that its shareholders accept the offer of 1,025 Australian dollars per share, which represents a first of 28% compared to the last price of its stock market listing.
“The proposed acquisition is an important part of Thiess’ strategy to diversify its operations across commodities, services and geographies. Thiess has great respect for MACA’s quality of service and we believe our industry experience positions us well to improve its value proposition for customers and employees,” said Thiess Chairman and CEO Michael Wright.
The mining company is 50% controlled by Hochtief, the German construction company that is 54% owned by ACS. The company’s intention is to operate MACA in the same way that its current management does today, maintaining its workforce, brand and assets.
This same year, Hochtief launched a takeover bid for 100% of Thiess’s parent company, Cimic, which culminated in the exclusion of the company from the stock market, one of the objectives that ACS had set itself to simplify its corporate organization.
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