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TMCNet:  TPG trumped by Canadians in move for Leighton assets

[February 20, 2013]

TPG trumped by Canadians in move for Leighton assets

Feb 20, 2013 (The Sydney Morning Herald - ABIX via COMTEX) -- Stock in Leighton Holdings on 20 February 2013 closed 3.58% higher at $A24.20, as investors reacted to news on its divestment of telco assets. It will sell 70% of these for about $A620m to the Ontario Teachers' Pension Plan, after entering into exclusive talks with the Canadian pension fund. This means that Australian-listed TPG Telecom misses out on the Nextgen Networks, Metronode and Infoplex operations being shed by Leighton, and TPG shares fell up to 9% during the day as a result.



Publication Date: 21 February 2013 LEIGHTON HOLDINGS LIMITED - ASX LEI TPG TELECOM LIMITED - ASX TPM ONTARIO TEACHERS' PENSION PLAN NEXTGEN NETWORKS PTY LTD METRONODE PTY LTD INFOPLEX PTY LTD NOMURA AUSTRALIA LIMITED

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