News Column

HOCHTIEF now holds 69.62 percent of Leighton shares

May 14, 2014

ENP Newswire - 14 May 2014

Release date- 13052014 - On March 10, 2014, HOCHTIEF AG announced a conditional, proportional off-market offer to acquire 3 out of 8 shares held by shareholders of Leighton Holdings Limited via its subsidiary HOCHTIEF Australia Holdings Limited.

As a result of the offer, which closed on May 9, 2014, HOCHTIEF now holds 69.62 percent of the shares of Leighton Holdings via its subsidiary HOCHTIEF Australia Holdings, an increase of 10.85 percentage points from the previous 58.77 percent stake.

The outcome of the offer represents an acceptance level of more than 70 percent which is in line with our expectations and signals that the majority of Leighton shareholders accepted our offer. Within the framework of this transaction HOCHTIEF invested approximately EUR 574 million to buy about 37.49 million shares at a price of AUD 22.50 per share.

'The result of the offer allows us to make a very significant reinvestment of capital in our core business and represents an important further step in the delivery of our strategy. We are convinced of the significant potential at Leighton,' says Marcelino Fernandez Verdes, CEO of HOCHTIEF.

Leighton's Independent Directors unanimously supported the offer and recommended acceptance.


Christian Gerhardus

Media Relations

Tel: +49 201 824-2642

Fax: +49 201 824-2585

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: ENP Newswire

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters