Leighton Holdings (ASX:LEI)
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2 Years : From Dec 2011 to Dec 2013
Australian construction and contract mining firm Leighton Holdings Ltd. (LEI.AU) may sell its waste management unit after receiving a number of approaches from potential buyers, a person familiar with the matter said Wednesday.
Leighton has hired J.P.Morgan to help it review the unsolicited offers, but is considering all options including retaining the business, the person said.
The waste management unit is part of Leighton's Thiess division.
A spokesman for Leighton was travelling and not immediately available to comment.
In June, Leighton's Thiess arm sold its 5% joint venture interest in the Burton coal mine in Australia to Peabody Energy Corp. (BTU) for A$35 million. Thiess had made the strategic investment in the operation in 1996 to help develop the mine.
The company this month reported a 57% rise in its half-year net profit to A$340 million from A$216.7 million a year earlier, and from a loss of A$408.8 million in the prior six months, which it said reflected an improvement in its Australian and Asian operations and a A$167 million gain on the sale of a mining-contracting business to BHP Billiton Ltd. (BHP). Revenue increased 25% to A$12.2 billion in the six months to Dec. 31.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; firstname.lastname@example.org