Wal King, the CEO of the Leighton Group, nominated John Holland, a subsidiary, to explore the opportunity. John Holland's CEO Bill Wilde led the negotiating team. The deal was quickly clenched and, on 5 December 2002, Guido announced that John Holland had acquired the assets, contracts, property, plant and equipment of Transfield's construction business. The sale included the transfer to John Holland of approximately $500 million of work in hand, including Transfield's equity and D&C stake in the consortium that eventually won the $1.1 billion Lane Cove motorway in Sydney.
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