Malaysian engineering group Gamuda Bhd has executed an asset sale agreement to acquire Downer Transport Projects (DTP) in Australia at a cash value of €122 million (MYR636 million). Gamuda’s Australian unit DT Infrastructure Pty Ltd signed the agreement on 22nd February 2023 to take over DTP from Downer EDI Works Pty Ltd and VEC Civil Engineering Pty Ltd. DTP provides civil construction services with specialist rail capability for delivering transport projects. Gamuda said the cash deal, which is expected to be completed by June 2023, will be financed by internally generated funds as well as loans.
