AMEC in talks to buy Australia's GRD

LONDON (Reuters) - British oil services and engineering group AMEC Plc (AMEC.L) confirmed on Thursday it is in talks to buy Australian engineering services company GRD Ltd (GRD.AX).

GRD said on Wednesday it had received a cash proposal from AMEC of A$0.55 ($0.446) per share, valuing the company at about A$106 million.

AMEC said GRD would complement its operations in the mining sector.

It added that the proposal remains conditional in a number of respects including completion of due diligence and negotiating and executing a binding implementation agreement.

(Reporting by Julie Crust; editing by Matt Scuffham)

($1=1.234 AUSTRALIAN DOLLAR)