Macmahon renews partnership with Leighton

Mining and civil engineering contractor Macmahon Holdings (ASX:MAH) has renewed its partnership with Leighton Holdings (ASX:LEI) into the indefinite future.

The partnership with fellow contract miner Leighton Holdings allows Macmahon to expand its areas of business overseas without compromising its independence, the company said.

“The renewal of this agreement is a positive step and shows that both Leighton and Macmahon are benefiting from the MOU,” Macmahon CEO Nick Bowen said.

The new MOU has no set expiry date.

Leighton owns 19% of Macmahon. MAH shares have climbed 5.6% to $0.56, while LEI shares are trading 0.29% higher at $34.45.