Arab Today, arab today german building firm hochtief ups bid for bigger leighton stake
Last Updated : GMT 13:22:57
Arab Today, arab today
Arab Today, arab today

German building firm Hochtief ups bid for bigger Leighton stake

Arab Today, arab today

Arab Today, arab today German building firm Hochtief ups bid for bigger Leighton stake

Frankfurt - AFP

German construction group Hochtief said on Thursday it will increase the price it is offering to raise its stake in Australia's biggest building company Leighton. The increased bid represented a total purchase price of 1.205 billion Australian dollars or 787 million euros ($1.1 billion). Hochtief said in a statement that it would increase its bid to buy three out of every eight shares currently held by Leighteon shareholders to 22.50 Australian dollars apiece. Earlier this week, Hochtief had offered a price of 22.15 Australian dollars per Leighton share in a move to increase its stake in the Australian company from 58.77 percent to 74.23 percent. The offer is still subject to regulatory approvals and will be funded from cash reserves and credit facilities, Hochtief said. The German group is also looking to increase its representation on Leighton's board of directors to reflect the bigger shareholding. Hochtief is controlled by Spanish group ACS. "As of today, Hochtief's chief executive Marcelino Fernandez Verdes, will also become the CEO of Leighton," the statement said. The Leighton board also appointed two further directors nominated by Hochtief. "Further changes to the board composition reflecting Hochtief's majority interest are about to occur in connection with the AGM of Leighton coming up in May 2014," the statement added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german building firm hochtief ups bid for bigger leighton stake Arab Today, arab today german building firm hochtief ups bid for bigger leighton stake

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german building firm hochtief ups bid for bigger leighton stake Arab Today, arab today german building firm hochtief ups bid for bigger leighton stake

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday