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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 | |
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0.00 | 0.00% | 0.00 | - |
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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