# Macmahon Holdings to acquire GBF Underground Mining for $48M

Macmahon Holdings has made a takeover offer of at least $48 million for GBF Underground Mining, with potential earn-out payments of up to $53.5 million based on performance. The acquisition is expected to complete in mid-August 2019.

- Type: Acquisition
- Announced: 2019-06-18
- Where: Australia
- Value: $33.6M (48.0M AUD)
- Status: announced
- Products: underground mining contracting services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Macmahon Holdings](https://endata.com/companies/22329.md) (acquirer)
- [GBF Underground Mining](https://endata.com/companies/40050.md) (target)

## Sources

- [australianmining.com.au](https://www.australianmining.com.au/macmahon-and-gbf-shake-hands-on-48m-acquisition/), 2019-06-18: "With GBF we have the opportunity to achieve meaningful scale in our underground contracting business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.