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| Hochtief now holds 69.62 percent of Leighton shares 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. write your comments about the article :: © 2014 Construction News :: home page |