Enaex S.A. (SNSE:ENAEX) entered into an agreement to acquire Downer EDI Mining-Blasting Services Pty Ltd from Downer EDI Limited (ASX:DOW) for an enterprise value of AUD 62 million on November 18, 2020. Completion of the transaction is subject to regulatory approvals from the Foreign Investment Review Board (FIRB) and other customary conditions. On February 3, 2021, the transaction was approved by FIRB. All the conditions for the fulfillment of deal have been met. Downer EDI Mining-Blasting Services Pty Ltd reported revenue of AUD 150.4162 million ( $110 million) for the fiscal year ended in June 30, 2020. Transaction is expected to occur on March 01, 2021. Macquarie Group Limited acted as financial advisor to Downer EDI Limited. Ernst & Young Australia acted as financial advisor and Ernst & Young Australia provided due diligence to Enaex.

Enaex S.A. (SNSE:ENAEX) completed the acquisition of Downer EDI Mining-Blasting Services Pty Ltd from Downer EDI Limited (ASX:DOW) on March 1, 2021.