NRW HOLDINGS LIMITED (ASX:NWH) - Bullish Sign? - Bounced off 200 EMA, page-2681 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by sabine ↑

Something there for us?
There is speculation in this story :

“Buckeridge Group open to offers”
https://www.theaustralian.com.au/bu...s/news-story/97a91f5ee67de13d698bd5e29ac77399

“Speculation is mounting about a break up of the Buckeridge Group of Companies, with the contract mining division of the $2 billion-plus empire expected to hit the market within weeks.

Working on the sale of the Perth-based empire, which spans contract mining to road haulage, building materials to quarries and apartment developments to industrial construction, is Macquarie Capital.

It is being placed on the market by the family of the late billionaire Len Buckeridge after a family feud over his will wound up in court.

Sources suggest major industry players, such as Cimic, could be lining up for the operation and, while some close to the transaction add that no official decision has been made to fire the starting gun on a sale process on contract mining, a decision is near.

The overall BGC operation is highly complex, with many parts reliant on each other to drive earnings and finding an acquirer for the entire operation is not expected to be easy.

The only parties who could buy the business in its entirety are thought to be Cimic, Lendlease or Fletcher Building, but all are thought to be disinterested or not in a position to take on the challenge.

However, the contract mining arm is thought to be the easiest to separate and is now tipped to be placed on the market shortly.

That division is likely worth several hundred million dollars, and in the competition for the operation is tipped to be Cimic, while Downer is expected to side step the process after offering strong indications at its recent results briefing that contract mining operations were not a core area of focus.

Private equity fund Oaktree recently approached Downer about buying its mining arm and was thought to have offered to pay three times its earnings — $50.4 million in fiscal 2018.

Downer wanted at least $500m — the value of the company’s assets, sources said.

A tough ask for Macquarie will be convincing possible suitors to pay beyond the value of the businesses equipment.

While buyers exist for contract mining operations, as was the case with Downer, they are not eager to pay top dollar.

Oaktree will also once again no doubt be a contender, while Ausdrill could also be strongly in the mix, along with Macmahon Holdings and civil and mining contractor NRW.

With respect to the overall Buckeridge company, which comprises other more valuable parts of the operation, the understanding is that the family will offer favour to any buyer who will take over the operation in one line, although they would also consider offers for the business in parts.

Headquartered in Perth, Western Australia, BGC Contracting has about 2000 employees nationally and an annual revenue nearing $1bn.”

BRIDGET CARTER

MERGERS & ACQUISITIONS EDITOR
Bridget Carter is Mergers and Acquisitions Editor at The Australian, and has also covered property and construction for the newspaper for more than four years. Additionally she's written about logistics, crime,... Read more

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More on BGC sale :

“Buckeridge sons, stepson step back from BGC Group roles, with sale of building and materials construction businesses on indefinite hold
Daniel NewellThe West Australian
Thursday, 28 February 2019 12:01PM....
......
.......The sale process update also noted that Macquarie Capital, which won the race earlier this year to advice BGC on the divestments, would explore options for BGC Contracting. The business has 2000 staff working across mining, maintenance and civil construction projects worth a combined $1.7 billion.

Options include a potential sale of all or part of the business, or alternative operating models and structures.

The BGC Group, one of Australia’s biggest privately owned business empires, announced last May that its assets would be put on the market as part of a staged sale process”......
https://thewest.com.au/business/con...-businesses-on-indefinite-hold-ng-b881120944z

“BGC pulls plug on construction business sale amid property downturn
By Paulina Duran and Hamish Hastie
February 28, 2019 — 3.14pm

......
But after a review amid Australia's sharpest property downturn in a generation, the board decided to halt the process and Macquarie recommended to proceed only with the possible sale or divestment of its contracting business, which includes mining maintenance and construction units, chairman Neil Hamilton said on Thursday.

"This is not a market in which anything near optimal valuation could be considered, so we are just turning it off and getting on with running the business," Mr Hamilton said. "In a reasonable market, we will revisit the motion."
https://www.smh.com.au/business/com...e-amid-property-downturn-20190228-p510x7.html

No.	Vol.	Price($)
5	14160	$3.93

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14160

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$3.95	10387	3

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10387

No.	Vol.	Price($)
1	5058	2.370
4	18795	2.360
4	37687	2.350
1	7879	2.340
3	24992	2.330

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5058

2.370

18795

2.360

37687

2.350

7879

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24992

2.330

Price($)	Vol.	No.
2.390	11634	3
2.400	71958	7
2.410	16085	2
2.420	19941	3
2.460	816	1

Price($)

Vol.

No.

2.390

11634

2.400

71958

2.410

16085

2.420

19941

2.460

816

(20min delay)
Last $3.95		Change 0.030(0.77%)		Mkt cap ! $1.574B

Open	High	Low	Value	Volume
$3.97	$3.98	$3.92	$2.104M	533.0K

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