CIMIC, formerly Leighton Holdings, has finally moved to clean up its disastrous investment in troubled developer Devine with a $58 million takeover bid for half the company it doesn't already own.
CIMIC's offer comes a week after Devine chief executive David Keir resigned and a fortnight after another profit downgrade.
Loading...
Mercedes Ruehl writes on real estate specialising in sales, leasing and residential properties. Connect with Mercedes on Twitter.
Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
