CIMIC Group
(ASX:CIM) has announced its subsidiary Leighton Contractors (Asia) has agreed to a settlement with its client Wynn Resorts.
The settlement relates to the Wynn Palace Macau project which opened on 22 August this year.
Under the agreement, both Wynn Resorts and Leighton have agreed to not pursue respective claims and cross-claims.
CIMIC has indicated there is no negative impact on its 2016 guidance.
CIMIC Group reported a net profit of $244.6 million at 30 June 2016.