CIMIC has a long history of operating through diverse, independent and often competing Operating Companies or brands, This strategy served the Group well in the past and assisted in top-line revenue growth and the development of a strong market share in Australia.
In 2014 the Group undertook a Strategic Review of its operations aimed at:
- Strengthening its balance sheet;
- Streamlining its operating model; and
- Improving project delivery.
As a result, CIMIC has reorganised its structure and established dedicated businesses focused on:
- Construction (Leighton Contractors and Leighton Asia);
- Mining (Thiess);
- Public Private Partnerships (Pacific Partnerships); and
- Engineering (EIC Activities).
In December 2014, Leighton announced the sale of John Holland to CCCC International Holding Limited for an enterprise valuation of approximately A$1.15 billion and the establishment a 50:50 investment partnership with funds managed by affiliates of Apollo Global Management (NYSE:APO) for the merged services business from Leighton Contractors and Thiess.
CIMIC also holds a 45% stake in the Middle East-based Habtoor Leighton Group and a 50% share in a new services entity, along with other investments including in listed companies.
CIMIC is also investigating partnership or divestment options for Leighton Properties.
Today, the CIMIC Group is the world’s largest contract miner and one of the world's leading contractors.
The Groups’ unique structure is based on a flexible corporate approach that allows it to adapt to changing market conditions whenever necessary.