Menu
Leighton to sell 70 per cent of telco assets for $885m

Leighton to sell 70 per cent of telco assets for $885m

This includes Nextgen Networks, Metronode and Infoplex

Leighton Holdings plans to sell 70 per cent of its telecommunications assets to the Ontario Teachers’ Pension Plan.

Leighton Holdings' telco assets include Nextgen Networks, Metronode and Infoplex.

According to the statement on the ASX, Leighton said the sale price values 100 per cent of these assets at $885 million.

The sale is subject to final negotiations, definitive documentation, the completion of due diligence and closing conditions such as the consent of various counter-parties.

Leighton CEO, Hamish Tyrwhitt, said it realigned the Group’s investment portfolio and was focused on growing profitably from its existing capital base.

“A key element of our strategy is the recycling of capital such as our telecommunications infrastructure assets, which are considered non-core,” Tyrwhitt said. “We are pleased to have reached an exclusive negotiating position with Teachers’, which is known for its global direct investment program and is a significant owner of assets in a number of countries including Australia. When the sale completes, we look forward to working with Teachers’ as our partner in the ownership of these assets.”

Tyrwhitt said it was still committed to providing construction, maintenance and field services to the telco market through its subsidiary brands, Visionstream, Silcar and John Holland Communications.

“The sale will enable us to continue to provide these services, which are core telecommunications competencies to an active market that is continuing to provide numerous opportunities without having to wholly-own the telecommunications assets,” he said.

Follow Us

Join the ARN newsletter!

Error: Please check your email address.

Tags InfoplexLeighton HoldingsOntario Teachers' Pension PlanNextgen Networks

Upcoming

Slideshows

IN PICTURES: VMworld 2015 Asia-Pacific and Japan party (+ 32 photos)

IN PICTURES: VMworld 2015 Asia-Pacific and Japan party (+ 32 photos)

VMware recently held an Asia-Pacific and Japan party for its partners in San Francisco following two days of keynotes and sessions. Whilst mingling and enjoying drinks and finger food, the partners were joined by VMware management who also took the opportunity to let their hair down to have some fun.

IN PICTURES: VMworld 2015 Asia-Pacific and Japan party (+ 32 photos)
IN PICTURES: VMworld 2015 sponsor and partner showcase (+41 photos)

IN PICTURES: VMworld 2015 sponsor and partner showcase (+41 photos)

VMware's sponsors and partners used the opportunity at VMworld 2015 to showcase some of their technologies. At an exhibition hall, these vendors educated those that popped by their stands on these solutions and addressed some of the issues surrounding mobility, datacentres, and the Cloud. SOme of the big names there included f5, Palo Alto Networks, HP, Intel, Samsung, and Symantec.

IN PICTURES: VMworld 2015 sponsor and partner showcase (+41 photos)

iasset.com is a channel management ecosystem that automates all major aspects of the entire sales, marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.

Show Comments