LEI Leighton Fpo

   By Ross Kelly 
 

SYDNEY--Leighton Holdings Ltd. (LEI.AU) said Thursday it has sealed a deal to sell a majority stake in its telecommunication assets to Ontario Teachers' Pension Plan for 619.5 million Australian dollars (US$647.0 million).

Australia's largest construction company had begun exclusive talks with the Canadian pension fund in February.

At the time, Leighton had said it was considering selling 70% of the infrastructure assets, which include its Nextgen Networks, Metronode and Infoplex units, at a price that values 100% of the businesses at A$885 million.

Write to Ross Kelly at ross.kelly@wsj.com

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