Severn Trent pays Costain £12m for three JVs
As part of the continuing disposal of its PFI portfolio, Costain Group has sold its minority shareholdings in three joint venture companies to Severn Trent for £12m.
Under the transfer agreement, reached and completed yesterday, December 19th, the three companies – Severn Trent Costain Holdings Ltd, Severn Trent Costain Services Ltd and Severn Trent Costain Ltd – become 100% owned by Severn Trent and will trade as Severn Trent Services.
The sale will realise an additional £9.1m profit for Costain Group, on top of full-year expectations, which will be used for ‘investment and working capital purposes’ according to a statement released by Costain this morning.
- Severn Trent to use Veolia's Actiflo technology at Frankley WTW Veolia Water Technologies has secured a contract with Severn Trent Water to design and implement three Actiflo AC10 Turbo... Read More >
- Severn Trent gets heavy fine for hazardous chemical leak Severn Trent Water has been fined £350,000 for polluting the River Amber in an incident that left tens of thousands of... Read More >
- John Laing sells services and facilities management business Carillion has bought support services and facilities management business John Laing Integrated Services (JLIS). The... Read More >
- Moving towards maintenance 4.0 Water utilities need to embrace smart asset management technologies but that is only part of the solution, writes Chris... Read More >
- Round table: Taking stock of totex Has total expenditure become enshrined in utilities' practices? A special pan-utility round table held at Utility Week... Read More >
- Round Table: Smart Asset Management for Water Companies Smart asset management is expected to drive significant improvements in water companies' operations, but is the industry... Read More >
- Into the Deep using advanced camera techniques Underwater drones, also known as remotely-operated vehicles (ROVs) have proved key to the inspection of... Read More >
- Opinion: Protecting our water assets against cyber threats It's vital that engineers start to lead the conversation on cyber security for operational technology in the water... Read More >