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Article: AUSTRALIA'S DOWNER EDI TO ACQUIRE 75 PCT OF NEW ZEALAND'S EXCELL.
- Article from:
- AsiaPulse News
- Article date:
- September 3, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Sept 3 Asia Pulse - Downer EDI Ltd (ASX:DOW) is to acquire 75 per cent of private equity-controlled New Zealand infrastructure supplier Excell Corporation Ltd.
Excell is 90 per cent-controlled by New Zealand-based private equity group Cullen Investments Ltd.
Downer EDI, an engineering and construction group, said the two Excell maintenance and asset management divisions to be acquired comprise three quarters per cent of the New Zealand company.
Excell is described as "New Zealand's largest preferred supplier of infrastructure maintenance solutions".
Downer EDI also said the Excell divisions would deliver around A$70 million ...