Cash from Kier JV sale will go towards debt reduction

By Hamish Champ2018-11-15T14:29:00

Firm sells interest in company for £24m

Kier has sold its interest in construction group KHSA to the Downer Group, the Australian conglomerate, for AUS$43.7m (£24m).

KHSA had been a part of Mouchel, the consultancy which Kier acquired in 2015 for £265m and later sold to WSP, and been in a joint venture with Downer, providing road asset management and maintenance.

Sydney-based Downer employs nearly 60,000 people worldwide and has interests in construction, mining and manufacturing. Last year it turned over AUS$12.6bn (£7bn) and reported earnings of AUS$480m (£267m).

…

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community