Amec sells public sector projects E-mail
Monday, 12 November 2007

Amec today completed the sale of its Project Investments business, the management team and eight PFI assets to Land Securities Trillium (LST), The deal is worth £152.4m before transaction costs

Amec will also sell two PPP road projects in the UK forf £11.1m. Completion is expected in December 2007.
 
Amec said the LST transaction does not include its investments in the Incheon Bridge Project in Korea and the Amec Wind assets and business which will be retained by the company.
 
In the year ended 31 December 2006, Project Investments generated profit of £5.5m before interest, tax and intangible amortisation and exceptional items. Gross assets at 31 December 2006 were £72m.

 

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