KIER IN TALKS TO BUY RIVAL TILBURY DOUGLAS

Published: 2022-01-18 01:21:06 ET KIE.L

London-listed construction company Kier Group is in advanced discussion to buy Tilbury Douglas, the construction arm of Interserve, which collapsed nearly three years ago, Sky News' Mark Kleinman first reported. The deal would complete Kier's status as one of the government's largest private sector contractors, spanning projects in hospitals, prisons and roads. The deal would also raise questions among Kier's shareholders about the company's strategy and balance sheet after it raised more than £500m in equity in two separate share sales in 2018 and 2021. The price being paid by Kier for the business was unclear.

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