Alfred McAlpine plc, the building services firm, has announced that it has completed the sale of its Welsh Slate business to Rigcycle Limited for £31 million in cash.
In the year ended 31 December 2006, the Alfred McAlpine Welsh Slate businesses contributed a loss of £13.2 million to Group Profit before Tax. The gross assets which are subject to the disposal total £27.0 million. The disposal will be earnings enhancing in 2008.
Separately, the proposed sale of Alfred McAlpine’s US Slate Business is well advanced and is expected to complete shortly.
The proceeds from both sales will, as previously announced by the company, be applied to reducing group indebtedness.
On 10 December 2007, the Board of Alfred McAlpine plc announced that agreement had been reached on the terms of a recommended offer for Alfred McAlpine by Carillion plc to create one of the UK’s largest support services and construction companies. Subject to shareholder approvals, the transaction is expected to complete in February/March 2008.
January 2, 2008
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