Gamuda has announced the conclusion of the Downer Transport Projects agreement for the agreed enterprise value of AUD212 million to DEW and VEC on 20 June 2023.
Save and except for the waiver of the below-mentioned condition precedent by DT Infrastructure, all other conditions precedent have been satisfied. The condition precedent waived by DT Infrastructure is in respect of the sale and purchase of some contracts which are pending the customer’s consent.
The group said the payment of AUD20 million has been deferred until all customer consents are received. Gamuda said the completion of the DTP Acquisition marks a significant milestone and represents the group’s commitment to strategic growth and expansion in the infrastructure and transport projects sector in Australia.
The DTP Acquisition is in line with the group’s growth plan of achieving AUD3 billion in revenue annually in Australia within the next two to three years.
