Emeco Holdings to acquire Pit N Portal for A$72M

Emeco Holdings signed a binding agreement to acquire Pit N Portal Mining Services and Pit N Portal Equipment Hire for an enterprise value of A$72 million ($49 million), consisting of A$62 million in cash and A$10 million in shares.

“Emeco Holdings looks to have found an entry into the underground contract mining and equipment rental space after having signed an agreement to acquire Pit N Portal in a deal that comes with an enterprise value of A$72 million ($49 million).”im-mining.com

• 2 sources
• im-mining.comEmeco to go underground with Pit N Portal acquisition - International MiningDaniel GleesonJan 29, 2020
• industryqld.com.auEmeco in $72m deal to acquire Pit N Portal - Industry QueenslandJan 29, 2020

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