Leighton sells telecom assets to Ontario Teachers’

Leighton Holdings, a subsidiary of German engineer Hochtief, is to sell 70% of its telecom assets to Ontario Teachers’ Pension Plan for A$620m. Proceeds are to repay debts. Leighton will retain 50% of board seats following the sale of the telecom networks.

The assets sold include the NextGen data network, cloud storage unit Infoplex, and data centre provider Metronode. TMT Finance previously reported that Macquarie, Morgan Stanley and HSBC are funding the acquisition, while Macquarie advised on the sell side.

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