A&O Shearman advises Elliott on AUD1.18 billion sale of Thiess stake to CIMIC Group

A&O Shearman advised Elliott Advisors on the sale of a 40% interest in Thiess to CIMIC Group, a Hochtief group company. The transaction, valued at AUD1.18 billion, completes Elliott’s structured investment in Thiess following its initial acquisition of a 50% preferred equity stake in 2020 and the subsequent sale of a 10% stake in 2024. Thiess is one of the world’s largest mining services contractors, serving clients across Australia, Asia and the Americas. M&A partner Michael Parshall described the series of transactions as demonstrating the innovative use of structured preferred equity investments in the Australian market and underlined the firm’s role in designing and executing the investment and its successful realisation. Finance partner Jane Glancy highlighted that collaboration across multiple jurisdictions and disciplines was critical to achieving a successful outcome for the client and underscored the strength of an integrated approach to complex, cross-border transactions. A&O Shearman represented Elliott Advisors with a team composed by: Michael Parshall, Partner, M&A (Sydney); Jane Glancy, Partner, Finance (London); David Walter, Partner (Sydney); Kendra Turner, Associate (Sydney); Hugh Mathison, Senior Associate (London); Dr. Walter Uebelhoer, Partner (Munich); Dr. Georg Lütkenhaus, Senior Associate (Munich); Michael Chernick, Partner (New York); Joshua Tryon, Associate (New York); Dhruti Tummalapalli (New York).

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A&O Shearman advises Elliott on AUD1.18 billion sale of Thiess stake to CIMIC Group

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A&O Shearman advises Elliott on AUD1.18 billion sale of Thiess stake to CIMIC Group

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