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Taxpayers at heart of Downer’s COVID-19 reset

Grant Fenn wants investors to give him $400 million to fund his plan to make Downer a small business largely focused on government contracts.  

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It’s a very COVID capital raising.

Downer chief executive Grant Fenn’s plan to raise $400 million has at its heart a clear message that the pandemic has turned the hairline fractures in the group’s business model into cracks that can no longer be ignored.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/taxpayers-at-heart-of-downer-s-covid-reset-20200721-p55e3b