Calibre agrees to sell G&S Engineering to DRA
Calibre Group Limited ("the Company") today signed a conditional Sale and Purchase Agreement (SPA) for the sale of its subsidiary G&S Engineering Services Pty Ltd (G&S) to DRA Australia Holdings Pty Ltd (DRA).
The sale and purchase is conditional on a number of normal course, conditions precedent and subject to satisfaction of those conditions is expected to complete in late July 2018.
DRA is a highly successful and credible diversified global engineering, project delivery and operations management group, with an impressive +30-year track record. Known for their collaborative approach and extensive experience in project origination and delivery, as well as turnkey operations and maintenance services, DRA delivers optimal solutions that are tailored to meet clients’ needs. With expertise in the areas of mining, mineral & metals processing, water, energy, and infrastructure, DRA delivers truly comprehensive solutions. With 16 global offices, DRA offers flexible engineering & operations management services worldwide.
As announced on 8 June 2018, the Company is continuing discussions to finalise the sales process for its Professional Services (PS) and Diona business. Reaching this first critical milestone enables Calibre to continue to consider and negotiate key terms for their sales if appropriate for shareholders over the coming month.
Further announcements with regards to the sales of the Professional Services (PS) and Diona businesses along with confirmation of completion of the G&S sale will be provided in due course.
INVESTOR AND MEDIA CONTACT:
Craig Allen ,Calibre Group Limited
firstname.lastname@example.org | +61 422 009 143