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LEI Leighton Fpo

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0.00 (0.00%)
Share Name Share Symbol Market Type
Leighton Fpo ASX:LEI Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Leighton to Sell John Holland Unit to Chinese Construction Company

11/12/2014 10:49pm

Dow Jones News


Leighton Holdings (ASX:LEI)
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   By Robb M. Stewart 
 

MELBOURNE, Australia--Leighton Holdings Ltd. (LEI.AU) plans to sell its John Holland contract-engineering division to a unit of China Communications Construction Co. (1800.HK), one of the world's biggest construction companies, for an enterprise value of about 1.15 billion Australian dollars ($950.9 million).

The sale will see about 4,100 employees transfer with the business and a fall in Leighton's annualized revenue of about A$3.7 billion, the Sydney-based company said in a statement Friday.

The binding agreement is subject to conditions including regulatory approval in Australia, Leighton said.

Write to Robb M. Stewart at robb.stewart@wsj.com

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