Leighton looks to sell Devine stake

Construction group seeks investors for 50.6% holding in residential property brand.

Leighton Holdings (LEI) is looking to sell its 50.6% interest in residential property group Devine, after saying this month it would consider divesting some businesses and strengthening its balance sheet.

The majority shareholder said it has commenced a confidential expression of interest process to seek potential investors for its stake.

The process is preliminary, with no assurances of a sale, Leighton said. 

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