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Contractor Watpac is negotiating the sale of its civil and mining business.
The company today revealed that it is undertaking due diligence with a potential buyer of this part of the business.
Watpac is working towards executing the legally binding documentation and completion of the transaction with the unnamed company.
The proposed transaction has an assessed potential value broadly in line with the current written down value of the companys assets, Watpac said in an ASX announcement.
Further announcements will be made as necessary in relation to the progress of the transaction in accordance with Watpacs continuous disclosure obligations.
The Watpac business also includes construction, speciality services and proper…
Read the full article at: https://www.australianmining.com.au/news/watpac-nears-deal-for-mining-and-civil-business/