# Develop to acquire Premium Group for A$7.46 million

Develop has entered into a letter of intent to acquire Premium Mining & Civil and Premium Mining Personnel for A$7.46 million, subject to approvals, to bolster its contract mining capabilities.

- Type: Acquisition
- Announced: 2022-05-25
- Where: Australia
- Value: $5.30M (7.46M AUD)
- Status: announced
- Products: underground mining personnel and equipment
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Premium Group](https://endata.com/companies/30003.md) (target)
- [Develop](https://endata.com/companies/62579.md) (acquirer)

## Sources

- [im-mining.com](https://im-mining.com/2022/05/25/develop-to-bolster-contract-mining-capacity-with-premium-group-acquisition/), 2022-05-25: "The two parties have entered into a letter of intent (LOI) pursuant to which Develop has agreed to acquire Premium Mining & Civil Pty Ltd and Premium Mining Personnel Pty Ltd (together, the Premium Group) for total consideration of A$7.46 ($5.3 million) million less net debt."

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