Bloomberg News

Hochtief Raises 2011 Guidance After Leighton Sells Businesses

September 30, 2011

Sept. 30 (Bloomberg) -- Hochtief AG raised its prior guidance for 2011 after its Australian subsidiary Leighton Holdings Ltd. sold parts of its Australian iron ore business at a substantial profit.

Leighton sold several projects undertaken by its subsidiary HWE Mining in the Pilbara region to mining group BHP Billiton for 512 million euros, generating a profit after tax of 118.5 million euros.

Hochtief said it will specity its guidance in more detail in coming weeks.

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To contact the editor responsible for this story: Rajiv Sekhri at rsekhri1@bloomberg.net


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