Welspun buys 34% in Leighton

Dec 25, 2010 |

Correspondent

Welspun Group’s Welspun Infra Projects on Friday said that it has acquired 35 per cent stake in Leighton Contractors (India) for `470-crore to pursue infrastructure opportunities in India. The transaction is subject to customary statutory, regulatory and other corporate approvals and is scheduled to be completed in the next 90-days. Leighton Contractors is the Indian arm of Leighton International Ltd, one of the world’s major project development and contracting organisations. “As Welspun continues to expand, we foresee great potential in the $500-billion Indian infrastructure sector,” Welspun’s chairman, Mr B.K. Goenka, said in a statement.

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