Hochtief ups stake in Leighton

Leighton's major shareholder has ignored a long standing agreement between the two groups and plans to increase its stake in the construction group.

Leighton Holdings Ltd has been told by controlling shareholder, Hochtief that it has increased to 54.96 per cent and plans to creep up the construction giant’s register, according to The Australian Financial Review.

The AFR understands Hochtief, which has approval from the Foreign Investment Review Board, has told Leighton it intends to keep the contractor as an ASX-listed company but has not specified by how much it plans to lift is stake.

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