Chile’s Enaex closes acquisition of Australia's Downer Blasting Services
Chilean explosives manufacturer Enaex has completed the acquisition of Brisbane, Australia-based Downer EDI Mining - Blasting Services (Downer Blasting Services) for Aus$62mn (US$48mn).
The transaction, dated March 1, includes “assets, liabilities, contracts and people belonging to the business,” according to an Enaex statement sent to Chile’s financial market commission (CMF).
Australia’s Foreign Investment Review Board (FIRB) gave approval for Enaex to buy 100% of Downer Blasting Services on February 3.
Downer Blasting Services is engaged in the manufacture and sale of explosives and also provides rock blasting services for open and underground mining operations in Australia.
The acquisition is part of Enaex’s strategic plan to strengthen its presence in foreign mining regions.
Last year, Enaex entered the South African market through a joint venture with Sasol South Africa Limited.
Enaex is a subsidiary of Sigdo Koppers group and its services are currently used in open pits and underground mines in Chile, Argentina, Brazil, Colombia and Peru.
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