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Leighton Holdings Limited’s (ASX:LEI) Middle Eastern joint venture, Habtoor Leighton Group, has reached an amicable agreement with its Qatar based client in relation to outstanding funds.
The building and construction firm will receive 40 per cent of the monies on the signing of the agreement and a further 20 per cent over coming weeks.
The balance will be repaid over the following 18 months and is in line with financial forecasts, the result reduces the risk exposure of HLG to Leighton.
Leighton Holdings reported a net profit of $469 million in the full 2013 calendar year.
