Skanska poised for Costain bid

Article Abstract:

Swedish industrial group, Skanska, may be about to submit a takeover bid for UK-based construction group, Costain, in the wake of Anders C Karlsson being appointed to the latter's board on 28 August 1998. Skanska has an option over the coming two years to boost its 7.6% share of Costain to 40% and its future success depends on what will happen to the 37.6% share in the latter held by Intria, the Malaysian contractor. Mr Karlsson is Skanska Europe's president and will become a non-executive director at Costain, which also posted narrower pre-tax losses for compared with the year earlier. Table: Costain Figures in GB mn Current Previous/Change Turnover 200.8 - -37% Pre-tax profits (1) (5.4)

Comment:

May be about to submit takeover bid for UK-based construction group, Costain

Asset sales & divestitures, Acquisitions & mergers, Skanska AB, Costain Group PLC, Article

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UK: DELTA POSTS LOWER PRE-TAX PROFITS

Article Abstract:

UK-based engineering group, Delta, posted lower pre-tax profits for 1999 compared with the year earlier but said that it expects all its units by end-2000 to attain annual growth of 10%. Delta chief executive, Jon Scott-Maxwell, said that an improvement was taking place, in part with the recovery of electrical and plumbing sectors in the UK and Germany. Table: Delta Figures in GB[pound] mn Current Previous/Change Pre-tax profits 39.1 42.9 -8.85%

Plumbing and Heating, Except Electric, Plumbing fixture fittings and trim, Plumbing & Heating Equip, Plumbing Fittings, Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing, Plumbing Fixture Fitting and Trim Manufacturing, Building materials industry, Building materials, Plumbing industry, Delta

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UK: PETERHOUSE POSTS PROFIT GAIN

Article Abstract:

Peterhouse, the UK-based construction and services business, posted higher pre-tax profits in 1999 compared with the year earlier, noting that already healthy order books should be further enhanced by the December 1999 acquisition of Eve. Table: Peterhouse Figures in GB[pound] mn Current Previous/Change Pre-tax profits 7.4 3.1 138.70%

Peterhouse

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