{"id":721,"date":"2014-12-19T09:55:16","date_gmt":"2014-12-18T22:55:16","guid":{"rendered":"http:\/\/www.bnmme.com.au\/?p=721"},"modified":"2014-12-19T09:55:16","modified_gmt":"2014-12-18T22:55:16","slug":"chinese-buyer-for-leightons-john-holland","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2014\/12\/19\/chinese-buyer-for-leightons-john-holland\/","title":{"rendered":"Chinese buyer for Leighton’s John Holland"},"content":{"rendered":"

A deal worth \u20ac 770 million (US$ 947 million) has been agreed by Hochtief subsidiary company Leighton Holdings for the sale of John Holland to CCCC International Holding<\/a>.<\/p>\n

The move to sell the Australian contractor to the financing arm of China Communications Construction Company<\/a> comes amid a streamlining of Germany-based Hochtief\u2019s wider business portfolio.<\/p>\n

In October, the contractor made the decision to divest its offshore assets to marine engineering company GeoSea, as well as parting with its property companies Format and Aurelis.<\/p>\n

The sale of John Holland<\/a> is subject to approval by the Australian Foreign Investment Review.<\/strong> It would involve the transfer of 4,100 employees to the new business. As a result of the sale, Leighton\u2019s annual revenues would be reduced by around \u20ac 2.5 billion (US$3.9 billion).<\/p>\n

Marcelino Fern\u00e1ndez Verdes, CEO of Hochtief and Leighton Holdings, said, “In June 2014 we announced that, as part of our strategic review we were analysing options for our services, property and John Holland businesses, including the potential divestment of, or introduction of new partners to, these businesses.<\/p>\n

\u201cThe divestment of John Holland supports our focus on further reducing gearing and strengthening our balance sheet so that we can sustain competitiveness.”<\/p>\n

Proceeds will also be used to finance future growth, particularly in public private partnerships.\u201d<\/p>\n

\"Mongolia's<\/a><\/p>\n

International contractor Leighton is selling its engineering subsidiary John Holland for $1.15 billion to Chinese company CCCC International Holding Ltd.<\/p>\n

CCCI is a wholly-owned subsidiary of China Communications Construction Company (CCCC), the fourth largest construction company in the world by revenue, with a market cap of $A23.5 billion.<\/p>\n

Leighton CEO Marcelino Fern\u00e1ndez Verdes says the divestment of is part of the company\u2019s strategic review initiatives to strengthen the balance sheet.<\/p>\n

The money will be used to pay down debt.<\/p>\n

The sale will mean a cut in Leighton\u2019s annualised revenue of about $3.7 billion. About 4,100 employees, from almost 50,000 in the group, go with the business.<\/p>\n

Leighton\u2019s shares are trading up 1.38% to $22.00.<\/p>\n

\u516c\u53f8\u5c31\u6536\u8d2d\u6fb3\u5927\u5229\u4e9aJohn Holland \u80a1\u6743\u7b7e\u8ba2\u6536\u8d2d\u534f\u8bae<\/p>\n

2014-12-15<\/p>\n

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A deal worth \u20ac 770 million (US$ 947 million) has been agreed by Hochtief subsidiary company Leighton Holdings for the sale of John Holland to CCCC International Holding. The move to sell the Australian contractor to the financing arm of China Communications Construction Company comes amid a streamlining of Germany-based Hochtief\u2019s wider business portfolio. In … Continue reading “Chinese buyer for Leighton’s John Holland”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-721","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-bD","jetpack-related-posts":[{"id":730,"url":"https:\/\/yinghuiinternational.com\/index.php\/2014\/12\/30\/john-holland-group-pty-limited\/","url_meta":{"origin":721,"position":0},"title":"John Holland Group Pty Limited","author":"yinghui","date":"December 30, 2014","format":false,"excerpt":"John Holland Group Pty Limited, founded in Australia in 1949 and headquartered in Melbourne, ranks currently one of the top three construction enterprises in Australia with excellent reputation in the industry. It has three primary businesses, namely construction work, special engineering service and transportation service. John Holland has core technologies,\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1736,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/08\/02\/results-reflect-a-company-in-transition-terex-ceo\/","url_meta":{"origin":721,"position":1},"title":"Results reflect \u201ca company in transition\u201d: Terex CEO","author":"yinghui","date":"August 2, 2016","format":false,"excerpt":"TEREX has made second quarter revenue of US$109.6 million ($145.44 million), reflecting what company CEO John Garrison is calling \u201ca company in transition\u201d. 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