Sale of Downers Australian Transport Projects business has been successfully concluded

Downer EDI Limited (ASX: DOW) has successfully concluded the sale of its Australian Transport Projects business to DT Infrastructure Pty Ltd, a company within the Gamuda Berhad group. Although most of the Conditions Precedent, including approval from the Foreign Investment Review Board (FIRB), have been met, there are still a few outstanding customer consents at completion.

These contracts will remain under Downer's ownership until the necessary consent is obtained. The sale price reflects an enterprise value of AU$212 million, and Downer has received most of the proceeds. However, AU$20 million of the proceeds will be deferred until the remaining customer consents are obtained and the contracts are transferred. Downer will focus on strengthening its market-leading positions in rolling stock, road maintenance, and infrastructure delivery in New Zealand within the transport sector.

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