Leighton Holdings Limited (ASX:LEI) subsidiary, construction, mining and services contractor Thiess, has bought out Siemens' stake in NBN contractor Silcar.
The deal gives Thiess full control of Silcar who are a telecommunications, energy and infrastructure services company working to roll out Australia’s National Broadband Network (NBN).
Thiess has not revealed the sum it paid for Siemens’ 50 per cent interest but it comes at a time Silcar has been under pressure concerning the infrastructure project’s rollout.
Thiess has advised the deal was done so that both companies could better focus on their respective portfolios.
Leighton Holdings posted a net profit of $442 million in the 2012 financial year.
