Macmahon lands potential CIMIC blocking stake

EMBATTLED mining contractor Macmahon Holdings has added more ammunition for its takeover battle with CIMIC with the signing of a heads of agreement with an Indonesian company that could give it more than a 50% stake in Macmahon.

Macmahon lands potential CIMIC blocking stake Macmahon lands potential CIMIC blocking stake Macmahon lands potential CIMIC blocking stake Macmahon lands potential CIMIC blocking stake Macmahon lands potential CIMIC blocking stake

CIMIC has got some fresh ammunition for its takeover defence against CIMIC.

The deal proposed under the HoA will make PT Amman Mineral Nusa Tenggara a significant shareholder in Macmahon and also bring the Australian contractor work on the Batu Hijau copper mine in Indonesia.

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