britain’s carillion lifted by middle east bid report
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Britain’s Carillion lifted by Middle East bid report

Arab Today, arab today

Arab Today, arab today Britain’s Carillion lifted by Middle East bid report

Britain’s Carillion lifted by Middle East bid report
LONDON - Arab Today

Takeover speculation drove Carillion shares almost 20 percent higher on Wednesday after a London newspaper reported that a Middle Eastern firm was preparing a bid for the struggling construction and support services company.
A spokeswoman said Carillion did not comment on “market speculation” in response to a City A.M. report on Tuesday which said a Middle Eastern construction group planned to submit a letter of intent for a takeover.
Carillion, whose market capitalization has dropped to £200 million ($268 million) from a peak of £1.67 billion a decade ago, is set to report first-half results on Friday.
City A.M. reported that the potential buyer would wait to analyze Carillion’s results and the state of its finances before tabling any bid.
Shares in Carillion have fallen nearly 75 percent since mid-July when it booked an £845 million writedown on construction contracts and announced the departure of its chief executive.
Carillion’s troubles have been compounded by its debt and pension obligations, as well as problems collecting cash.
The company said in July its first half average net debt was £695 million, while its pension deficit net of tax was £587 million. Carillion is selling non-core businesses and has suspended its dividend to try to reduce its debt burden.
Winning new contracts had become harder as spending in the Middle East adjusted to lower oil prices, and the firm had also experienced some delays in British public spending decisions since Britain voted to leave the EU.
Carillion has said it will focus on rail and property services as it seeks to turn itself around.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

britain’s carillion lifted by middle east bid report britain’s carillion lifted by middle east bid report

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

britain’s carillion lifted by middle east bid report britain’s carillion lifted by middle east bid report

 



GMT 13:42 2015 Saturday ,04 April

Libyan warplane targets camp in Gharyan town

GMT 15:14 2017 Wednesday ,01 March

UN documents nearly 1,500 child soldiers in Yemen

GMT 07:24 2017 Sunday ,01 October

Mexico unlikely to find more quake survivors

GMT 16:15 2015 Wednesday ,11 November

German intelligence 'spied' on Fabius, FBI, UN bodies

GMT 01:32 2017 Saturday ,15 April

Russia's Putin earns about 157,000 USD in 2016

GMT 16:30 2017 Saturday ,15 July

Minister of planning gives priority

GMT 19:45 2017 Wednesday ,05 April

President of Senegal Meets Attorney General

GMT 05:18 2017 Thursday ,21 September

Over 80 missing after migrant boat sinks off Libya

GMT 19:22 2017 Saturday ,01 April

UN: Number of Syrian Refugees Tops 5 million

GMT 15:16 2016 Thursday ,29 September

FBI to put up database on police use of deadly force

GMT 05:06 2016 Friday ,30 September

Indian markets open flat

GMT 01:57 2017 Tuesday ,10 October

Twin suicide bombs kill 13 near Mogadishu airport

GMT 02:25 2017 Friday ,08 September

UAE celebrates National Day at Expo 2017 Astana

GMT 06:19 2017 Sunday ,08 January

Bleaching poses the gravest threat to coral reefs

GMT 12:35 2017 Monday ,18 September

Elham Shahin happy for “Day for Women”

GMT 09:46 2017 Thursday ,22 June

US existing home sales unexpectedly rise in May

GMT 02:36 2017 Tuesday ,10 January

US embassy condemns Al-Arish suicide attack

GMT 10:34 2017 Sunday ,26 November

czar faces graft probe
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday