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REFILE-British engineer Amec mulls move for rival Kentz-report
August 18, 2013 / 1:31 PM / 4 years ago

REFILE-British engineer Amec mulls move for rival Kentz-report

LONDON, Aug 18 (Reuters) - British engineer Amec is eyeing an 800 million pound bid for London-listed peer Kentz as the group attempts to grow its oil and gas division, according to a report on Sunday.

Amec, which provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, approached Kentz in July over a potential deal, the Mail on Sunday reported without naming the source.

Germany-based M+W Group have also shown an interest, the report said.

A source familiar with the situation told Reuters any potential deal was likely to be significantly lower than the reported 700 pence a share figure.

Amec told reporters at the start of the month it was looking to make acquisitions in the second half in the oil and gas sector, and if no deals were forthcoming it would consider a cash return for shareholders.

Kentz, a FTSE 250 company with a market cap of 561 million pounds, listed in 2008 and has grown rapidly into a diversified construction company with mining, oil and gas, and infrastructure projects all over the globe.

In an interview with Reuters in July, Kentz Chief Executive Christian Brown said the firm was looking for engineering acquisitions itself.

Kentz and Amec both declined to comment on the report.

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