# CIMIC to sell 50% stake in Thiess to Elliott

CIMIC Group, a HOCHTIEF subsidiary, has entered into an agreement to sell a 50% equity interest in mining services provider Thiess to funds advised by Elliott Advisors, valuing Thiess at AUD 4.3 billion. CIMIC will retain the other 50%.

- Type: Acquisition
- Announced: 2020-10-19
- Where: Australia
- Value: $3.06B (4.30B AUD)
- Status: announced
- Products: open cut and underground mining services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [CIMIC Group](https://endata.com/companies/20208.md)
- [Thiess](https://endata.com/companies/15208.md) (target)
- [HOCHTIEF](https://endata.com/companies/22621.md) (investor)
- [Elliott Advisors](https://endata.com/companies/50609.md) (acquirer)

## Sources

- [hochtief.com](https://www.hochtief.com/news-media/press-releases/press-release/hochtief-subsidiary-cimic-enters-sale-agreement-with-elliott-for-50-of-thiess), 2020-10-19: "The sale agreement reflects Thiess’ ongoing strategic importance as a core activity for CIMIC."

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