EDGE 2015 is starting in

Find out more EDGE 2015
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.

EDGE 2015:: For all the latest on EDGE 2015 including the keynote speakers visit the EDGE mini-site now

Follow Us

Join the ARN newsletter!

Error: Please check your email address.

Tags InfoplexLeighton HoldingsOntario Teachers' Pension PlanNextgen Networks

Upcoming

Slideshows

In Pictures: Hacking Team's hack curated

In Pictures: Hacking Team's hack curated

Hacking Team, a firm best known for helping governments spy on their citizens, has been hacked. Here's a curated look at the documents, contracts, and code discovered by researchers sorting the data online.

In Pictures: Hacking Team's hack curated
In Pictures: HP Pro Slate 8 features magic pen

In Pictures: HP Pro Slate 8 features magic pen

It’s been reported of late that tablet sales have stalled, so some tablet makers have responded by designing premium-priced devices with powerful specs and unique features. To this category, I would add one of HP’s latest efforts.

In Pictures: HP Pro Slate 8 features magic pen
IN PICTURES: Intalock celebrates five years (+14 images)

IN PICTURES: Intalock celebrates five years (+14 images)

Data solutions specialist Intalock recently held its fifth anniversary party at X in Brisbane, which saw local resellers enjoy cocktails with a coy Casino Royale theme. Photos by Aaron Jamieson.

IN PICTURES: Intalock celebrates five years (+14 images)

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