CIM

Australia's CIMIC in advanced talks to sell 50% of Thiess to Elliott

Australia's CIMIC Group on Wednesday said it was in exclusive advanced talks with an affiliate of hedge fund Elliott Management for a potential investment of 50% in Thiess, its mining services business.

July 29 (Reuters) - Australia's CIMIC Group CIM.AX on Wednesday said it was in exclusive advanced talks with an affiliate of hedge fund Elliott Management for a potential investment of 50% in Thiess, its mining services business.

The engineering contractor said in a statement that it expects negotiations to conclude in the coming weeks, along with a share purchase agreement subject to regulatory approval.

(Reporting by Shriya Ramakrishnan in Bengaluru)

((Shriya.Ramakrishnan@thomsonreuters.com; +91 8061822842 ;))

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