Spanish building giant ACS has secured regulatory clearance from the European Union to take control of Leighton Holdings Ltd (ASX:LEI) parent, Hochtief.
ACS has been trying to take control of Germany's top builder because of its low borrowings and lucrative 54.5 per cent stake in Leighton.
The EU competition watchdog, the European Commission, said the deal would not pose any competition concerns as the companies were predominantly active in different countries.
For the year ended 30 June 2010, Leighton reported a net profit of $615 million.
LEI Price at posting:
$31.04 Sentiment: None Disclosure: Held
