Ashurst and Allens have the lead roles on German construction company Hochtief Aktiengesellschaft A.G.’s $1.1 billion offer to increase its holding in Australia’s Leighton Holdings Ltd. to 73.8 percent.
Hochtief currently owns 58.8 percent of Leighton through its wholly owned Australian subsidiary Hochtief Australia Holdings Ltd. Analysts speculate a full takeover might be in the cards if the current offer is accepted. According to Bloomberg, nearly half of the German builder’s revenues come from its Australian operation, for which Leighton most accounts.
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