Atkins to sell UK Highways Services business

Engineering and product management consultancy Atkins has signed an agreement to sell its UK Highways Services business to Skanska UK, a wholly owned subsidiary of Skanska AB.

Engineering and product management consultancy Atkins has signed an agreement to sell its UK Highways Services business to Skanska UK, a wholly owned subsidiary of Skanska AB.

The consideration for the business will be up to £18m, of which £16m is due on completion and a further £2.0m is to be deferred and paid subject to the future performance of the business.

The UK Highways Services business, which employs around 1,200 people, reported revenue of £80m in the six months to September 30th 2012.

Prof Dr Uwe Krueger, the group's Chief Executive Officer, said: "The sale of UK Highways Services, which forms part of our UK Highways and Transportation business, is a step forward in the implementation of our strategy which includes work to optimise our portfolio of businesses.

"We wish to focus on growth sectors in engineering, design services and project management. We believe Skanska is a more appropriate owner for this business and will enable it to continue to flourish and grow."

The transaction is expected to be completed by May 31st this year.

NR

Recommended

Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
Don’t try to time the bottom – start buying good companies now
Investment strategy

Don’t try to time the bottom – start buying good companies now

Markets are having a rough time, so you may be tempted to wait to try to call the bottom and pick up some bargains. But that would be a mistake, says …
1 Jul 2022
Share tips of the week – 1 July
Share tips

Share tips of the week – 1 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
1 Jul 2022
Bunzl: boring is good for business
Share tips

Bunzl: boring is good for business

Food-service distribution company Bunzl is not a terribly exciting business, but it looks cheap and could be a great investment, says Rupert Hargreave…
30 Jun 2022

Most Popular

UK house prices are definitely cooling off – but are they heading for a fall?
House prices

UK house prices are definitely cooling off – but are they heading for a fall?

UK house prices hit a fresh high in June, but as interest rates start to rise, the market is cooling John Stepek assesses just how much of an effect h…
30 Jun 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
22 Jun 2022
The ten highest dividend yields on Aim
Income investing

The ten highest dividend yields on Aim

Rupert Hargreaves picks the highest-paying dividend stocks on Aim, London’s junior market for small and medium-sized growth companies.
29 Jun 2022