CORPORATE DIVESTITURE – AUSTRALIA

Leighton slims down in $1.5b sell-off

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Original article by Jenny Wiggins, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 1 & 8 : 13-Jun-14

Australian-listed construction group Leighton Holdings will undertake a restructuring that is expected to include asset sales. The John Holland construction business is one of the assets that could be sold, with expectations that it could fetch around $A1bn. Leighton’s services businesses could also be offloaded, while the future of its property assets are also believed to be under scrutiny. Leighton currently has five operating businesses, but these will be reduced to four as part of the restructure

CORPORATES
LEIGHTON HOLDINGS LIMITED – ASX LEI, JOHN HOLLAND PTY LTD, HOCHTIEF AG, DEVINE LIMITED – ASX DVN, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, MACQUARIE CAPITAL PTY LTD, CHEVRON CORPORATION, LEIGHTON CONTRACTORS PTY LTD, THIESS PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Goodman to recycle $1.4 billion in assets

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 13-Jun-14

Goodman Group plans to reinvest the proceeds of property sales into the development of new projects. The Australian-listed company’s property portfolio is valued at around $A26.4bn, and it intends to offload some $A1.4bn worth of property in Australia and offshore. Goodman has forecast that its 2013-14 operating earnings will be about seven per cent higher than previously

CORPORATES
GOODMAN GROUP – ASX GMG, MORGAN STANLEY AUSTRALIA LIMITED