Major Drilling Acquires Bunbury Drilling Company, Expanding into Specialized Mine Dewatering in Australia
BNN Bloomberg ·
Major Drilling Group International Inc. (“Major Drilling” or the “Company”) (TSX: MDI) is pleased to announce that, through its Australian subsidiary, Major Drilling Pty Ltd, it has acquired all of the issued and outstanding shares of Bunbury Drilling Company (“BDC”), a leading specialized mine dewatering drilling contractor based in Bunbury, Western Australia, for an upfront cash payment of A$50 million, with an additional A$20 million available through an earn-out, for total consideration of up to A$70 million, or approximately C$69 million (the “Acquisition”).