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
Access Investor Kit for Leighton Holdings Ltd.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=AU000000LEI5
Access Investor Kit for China Communications Construction Co.
Ltd.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=CNE1000002F5
Access Investor Kit for Hochtief AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=DE0006070006
Subscribe to WSJ: http://online.wsj.com?mod=djnwires