Company News Summary
Leighton Holdings in Negotiations to Sell 70% of Telecommunications Assets
Original announcement: Leighton in negotations to sell 70% of telco assets
Leighton Holdings announced that the company had begun exclusive negotiations to sell 70% of its telecommunications assets which include Nextgen Networks, Metronode and Infoplex to the Ontario Teachers' Pension Plan, through its Long Term Equities division. The sale price values 100% of these assets at $885m. The sale is subject to final negotiations, definitive documentation, the completion of due diligence and is subject to closing conditions such as the consent of various counter-parties.
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