Seven Group Holdings to acquire remaining 53.3% of Coates Hire from Carlyle Group

Seven Group Holdings will buy the 53.3% stake in Coates Hire it does not already own from Carlyle Group for A$517 million ($414 million), assuming net debts as well.

“U.S. private equity firm Carlyle Group is quitting its decade-long mining services play in Australia through the A$517 million ($414 million) sale of its controlling stake in the highly leveraged earth-moving equipment provider Coates Hire.”reuters.com

• 2 sources
• reuters.comU.S. Carlyle Group exits Australian mining services play Coates HirePaulina DuranSep 20, 2017
• smh.com.auSeven Group Holdings buys out Coates HireDarren GraySep 20, 2017

Summarized from public sources; check the original articles before acting on it.