NRW Holdings (ASX:NWH) executes an agreement to acquire BGC Contracting

Company News

by Rachael Jones

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Last Updated: 6/12/2019 3:59 PM

Mining Services Company NRW Holdings (ASX:NWH) has executed an agreement to acquire 100 per cent of BGC Contracting.

BGC is headquartered in Perth, WA, with approximately 2,300 employees nationwide and a large portfolio of revenue nearing $1 billion per annum.

The Acquisition values the equity of BGC Contracting at $116.4 million, payable by NRW in cash at completion.

As part of the Acquisition NRW will also assume $193.6 million of debt related to asset finance.

They are preparing an institutional placement worth $120 million at a floor price of $2.65 a share and a maximum price of $2.85.

Shares in NRW Holdings (ASX:NWH) last traded at $2.83.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.