Leighton buys out Welspun stake in Indian JV

Australian contractor to pay $99m to acquire remaining 39.9% of firm

Mumbai skyline (Photo: Punit Paranjpe/AFP/Getty Images)
Mumbai skyline (Photo: Punit Paranjpe/AFP/Getty Images)

Leighton Holdings, the Australian company which owns a 45% stake in Dubai's Habtoor Leighton Group, has announced that it is to buy out its joint venture partner in its Indian business, Leighton Welspun, in a deal worth $99m.

The company said that the deal arose from Welspun's decision to focus on its core businesses, which include textiles, pipes, steel and energy.

Prior to the announcement, Welspun had owned a 39.9% stake in the company, which was branded as Leighton Welspun but is now changing its name to Leighton India.

Leighton Welspun was established in 2010 and operates in the building, infrastructure, mining and oil & gas markets.

Leighton said that it "continues to see strong long-term prospects in the India market".

It added that it will now undertake a review of the business to consider integrating units in a bid to cut costs and provide better growth opportunities.

Most popular


CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that


Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020