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Article: AUSTRALIA CO MACMAHON HLDGS EXTENDS JOINT PJTS MOU WITH LEIGHTON.
- Article from:
- AsiaPulse News
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELBOURNE, Nov 3 Asia Pulse - Macmahon Holdings Ltd (ASX:MAH) has extended its memorandum of understanding (MOU) with Leighton Holdings (ASX:LEI) over the two groups partnering on large infrastructure projects.
In the process, the groups have dropped a requirement in their original agreement that Leighton obtain Macmahon's written consent before extending its shareholding in the latter beyond 19.9 per cent.
Leighton now holds 19 per cent of Macmahon.
Macmahon said the new MOU was effective from November 2, with no termination date.
Macmahon said the original MOU, signed in November 2007, had improved Macmahon's ability to win large ...