July 26, 2014 / 9:47 AM / 3 years ago

Ferrovial to bid $1.4 bln for Australia's John Holland -Spain's Expansion

MADRID, July 26 (Reuters) - Spanish infrastructure and services company Ferrovial is preparing a A$1.5 billion ($1.4 billion) offer for Australian firm John Holland, Spanish business daily Expansion reported on Saturday without citing sources.

John Holland, a wholly owned subsidiary of Australia's largest construction firm Leighton Holdings Ltd, provides contracting and services to the transport, energy and resources sectors.

A Ferrovial spokesman declined to comment on Saturday.

Leighton said in June it was considering selling the business as Spanish-controlled majority owner Hochtief tries to cut debt and potentially fund a bid for full ownership.

Analysts said at the time the business could fetch A$800 million, helping Germany-based Hochtief, controlled by Spain's ACS, finance an increase in its stake in Leighton.

Ferrovial made several overseas acquisitions last year, including British maintenance and utility firm Enterprise and a company specialised in the Chilean mining sector, and said in February it had the resources to make new investments. ($1 = 1.0644 Australian dollars) (Reporting by Sonya Dowsett; Editing by Louise Ireland)

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