Here’s a private equity exit that falls neatly into Australia’s energy transformation.
Street Talk understands MA Moelis Australia has been mandated to review options at Contract Resources which is slated to fetch a price of as much as $500 million. It’s expected to be marketed to global specialist energy services contractors, given Contract’s offshore listed comparables are typically larger and trading at higher multiples than their local peers, sources said.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
