Leighton offloads John Holland for $1.15B

Company News

Leighton Holdings Limited (ASX:LEI) has inked a $1.15 billion deal to divest its John Holland arm.  
 
The construction and engineering company’s contracting division has been snapped up by China Communications Construction Company. 
 
CEO Marcelino Fernández Verdes says the divestment represents progress in strengthening its balance sheet, streamlining the operating model and improving project delivery. 
 
The sale still remains subject to approval by the Foreign Investment Review Board. 
 
Leighton Holdings reported a net profit of $285 million in the first half of the 2014 calendar year. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.