Sydney, Nov 5, 2007 (ABN Newswire) - Coming up in business news this morning, Leighton Holdings partners up with Macmahon. Blue Energy talks about the future with Sydney Gas. And Rio Tinto moves to wrap up its Alcan deal.

The full report is available at the following video and audio links.

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Australian construction firm Leighton Holdings has teamed up with contractor Macmahon Holdings for joint infrastructure and construction projects. The venture includes a two-year standstill agreement requiring Leighton to get written consent before acquiring nearly a 20 per cent stake on Macmahon. Leighton currently holds 15 per cent. Macmahon says the new agreement allows the company to take on larger construction projects, including public-private partnerships. Profits in Lieghton Holding have grown steadily since 2004.

Australian coal seam gas explorer Blue Energy has held informal talks with Sydney Gas about a number of potential proposals. Blue Energy says the proposals are only at a preliminary stage. Sydney Gas, which has a market capitalisation of about $124 million, is remaining tight lipped about the approach, adding there's no certainty the approach will lead to a transaction or new development arrangements. Blue Energy has been in the red since 2006.

And just briefly, Rio Tinto has moved to wrap up its takeover of Alcan after reaching the 90 per cent acceptance threshold in its $41 billion offer for the Canadian aluminum group. Rio needed to reach the 90 per cent mark, to allow it to start the acquisition of the remaining 9.8 per cent of Alcan's outstanding shares under an offer announced on July 12. Rio Tinto has posted strong profit results over the past five years.

Source: Finance News Network © 2007 http://www.finnewsnetwork.com.au