Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Leighton Holdings to offload non-core telco assets  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 20/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Leighton Holdings (ASX: LEI) plans to sell 70% of its non-core telecommunications assets, with the company now in exclusive negotiations with Ontario Teachers' Pension Plan.

The sale will realise significant value for Leighton, with the sale price valuing 100% of the assets at A885 million.

The telecommunications assets include Nextgen Networks, Metronode and Infoplex.

The proposed sale follows the completion of a detailed strategic review of the company's assets that are considered non-core.

Ontario Teachers' Pension Plan will acquire the assets through its Long-Term Equities group, which focuses on direct investments with steady cash flow and growth potential over a long-term horizon, and a low to moderate level of risk.

Leighton plants to retain the funds raised from the sale within the company reducing its leverage.

The company will continue to provide construction, maintenance and field services to the telecommunications market through its subsidiaries Visionstream, Silcar (50% owned by Thiess) and John Holland Communications.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help