Reported by Consejeros Editorial Team
Cimic, a subsidiary of ACS, has completed the repurchase of the 50 per cent stake in the Australian mining company Thiess from the Elliott fund for A$1.191 billion (almost €720 million), payable on 1 September 2026, and has regained full control of the global mining services company.
The company has explained that this acquisition follows Cimic’s sale of Thiess to a joint venture in 2020. Thiess is a high-performing company with long-term contracts, strong cash flow generation and a clear strategy aligned with the changing needs of the natural resources sector, said Juan Santamaría, CEO of ACS and Hochtief and Executive Chairman of the Cimic Group. Analysts at Norbolsa agree that “the transaction reinforces the group’s strategy to grow in the mining services and critical minerals business, driven by the energy transition and digitalisation.”
Thiess will continue to operate as a global mining services company within the Cimic Group and there will be no changes to its commitments to clients, its people-centred approach or its safety priorities.
