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Costain Group PLC sells stakes in three joint venture companies to Severn Trent Plc

Friday, 20 Dec 2013 02:00am EST 

Costain Group PLC:Announces that, as part of the continuing disposal of its PFI equity portfolio, on Dec. 19, it entered into an agreement to sell its minority shareholdings in three joint venture companies to Severn Trent Plc, for an aggregate cash consideration of 12.0 million pounds.Says the transfers were completed on the same date.Says upon completion, Severn Trent became the 100 percent owner of the three companies which provide services in the water sector.Says the Group will use the funds for investment and working capital purposes.Says the three companies are: Severn Trent Costain Holdings Limited, Severn Trent Costain Services Limited and Severn Trent Costain Limited. 

Company Quote

-6.0 -0.30%
24 Oct 2014