China Communications Construction Company (1800.HK: Quote) (601800.SS: Quote) announced on Friday, they will acquire local engineering and contracting services provider John Holland from Australian Leighton Holdings (LEI.AX: Quote) with a total cost of 953.1 million (approximately HK $ 6.1 billion).

CCCC said in a statement, in which approximately 853.1 million of the total cost targets to purchase the entire share capital of John Holland, whereas the other approximately 100 million to pay off net debt. Acquisition is subject to regulatory approval by the Foreign Investment Committee Australia and Development and Reform Commission China.

CCCC said that the acquisition represents an important achievement as part of the company’s international development strategy. To expand the company’s business scope and strategic value, CCCC plans to use John Holland’s expertise in roads, railways, tunnels, water supply infrastructure and real estates, especially in the area of transport services which is extremely competitive.

Moreover, John Holland has a long and successful business history in Southeast Asia and Hong Kong, thus, hoping to further develop opportunities in these markets while benefiting through CCCC’s local networks.

As of the year ended 2012 and 2013 by the end of December, John Holland’s net income after tax and non-recurring items from continuing operations were 6,546million and 171million Australian dollars respectively. CCCC said the expected acquisition will happen on the 28 February, 2015 or no later than 31 March, 2015.