ief , ▁was ▁the ▁majority ▁owner ▁of ▁Le ight on ▁Hold ings , ▁and ▁installed ▁Ho cht ief ‘ s ▁CE O , ▁Marcel ino ▁Fern ande z ▁Ver des , ▁as ▁Le ight on ' s ▁CE O . ▁In ▁June ▁ 2 0 1 4 , ▁Ver des ▁also ▁became ▁chairman ▁of ▁Le ight on ' s ▁executive ▁board . ▁ ▁In ▁December ▁ 2 0 1 4 , ▁Le ight on ▁Hold ings ▁sold ▁John ▁Holland ▁to ▁China ▁Communic ations ▁Const ruction ▁for ▁$ 1 . 1 5   b ill ion . ▁ ▁In ▁April ▁ 2 0 1 5 , ▁in ▁the ▁w ake ▁of ▁the ▁earlier ▁cor ruption ▁alleg ations ▁against ▁Le ight on ▁Hold ings , ▁A CS ▁changed ▁Le ight on ’ s ▁name ▁to ▁C IM IC ▁Group ▁( ab bre vi ated ▁from ▁Const ruction , ▁In frastr ucture , ▁M ining ▁and ▁Con cess ions ). ▁ ▁In ▁March ▁ 2 0 1 6 , ▁C IM IC ▁purchased ▁min ing ▁company ▁Sed g man ▁for ▁A $ 2 5 6 ▁million . ▁ ▁In ▁December ▁ 2 0 1 6 , ▁C IM IC ▁purchased ▁engineering ▁company ▁U GL ▁Limited ▁for ▁A $ 5 2 4 ▁million . ▁ ▁Michael ▁Wright ▁became ▁CE O ▁in ▁succession ▁to ▁Marcel ino ▁Fern ande z ▁Ver des ▁in ▁November ▁ 2 0 1 7 . ▁ ▁Str ucture ▁C IM IC ▁Group ▁includes ▁the ▁following ▁business es : ▁CP B ▁Cont ract ors ,