MinterEllison has successfully advised CIMIC on its acquisition of an additional 10% equity interest in global mining service provider, Thiess for a cash purchase price of A$320m.

The acquisition has increased CIMIC's ownership of Thiess to 60% with CIMIC's wholly owned subsidiary CGI3 Pty Ltd, retaining a 50% interest in Thiess.
The MinterEllison team was led by Partner Sebastian Rosholt with support from Senior Associates Tegan Broadfoot and Amanda Farley and Lawyers Katherine Beer and Jordana Kasler.

Commenting on the deal Partner Sebastian Rosholt said:

"We were delighted to work alongside CIMIC on this strategic transaction which strengthens CIMIC's day-to-day operational control over Thiess and will have positive implications for CIMIC's credit ratings following Thiess' full consolidation into CIMIC's financial accounts."

MinterEllison has a long-standing relationship with CIMIC and this transaction marks the fifth time that MinterEllison has successfully acted for CIMIC in connection with its interest in Thiess in the past five years.

The acquisition involved preference and ordinary shares in Thiess and is linked to a put option held by Elliott for its remaining 40% interest in Thiess which is exercisable by Elliott between April 2025 and December 2026.