Leighton Completes John Holland's Sale to CCCI

Leighton Holdings today announced it had completed the sale of John Holland to CCCC International Holding Limited (CCCI), a wholly-owned subsidiary of China Communications Construction Company (CCCC).

As previously advised, CCCI has purchased John Holland for an enterprise valuation of approximately A$1.15 billion.

Leighton Holdings Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: “Completing the sale of John Holland marks the achievement of a material piece of the Strategic Review of our operations that we announced in June 2014. The divestment reduces our gearing and strengthens our balance sheet so that we can be sustainably competitive and invest in future growth, particularly PPPs.

“The Leighton Group will continue to work with John Holland under its new ownership, both through existing joint ventures and through potential collaboration on future opportunities.”