Bitter Sweet(t) moment for WSP

I bet property consultant WSP is feeling rather relieved that it didn't press ahead with the purchase of Sweett Group at the beginning of the year.

For readers that don't recall, I had a story that WSP - which is owned by Canada-based Genivar Inc - was on the verge of buying Sweett Group in early January but pulled out of the deal around the time the Aim-listed business made this announcement:


http://www.investegate.co.uk/sweett-group--csg-/rns/conclusion-of-independent-investigation/201401080700061247X/

And here are links to the original story I published and a follow up piece:

http://betaville123.blogspot.co.uk/2014/02/predator-circles-sweett-group.html

http://betaville123.blogspot.co.uk/2014/04/sweett-group-is-not-so-sweet-after-all.html

Today, Sweett Group announced the Serious Fraud Office has launched an investigation into the company over allegations a former employee was involved in bribery. Here is a link to a Financial Times piece on the topic: http://www.ft.com/cms/s/0/7eb16148-0b44-11e4-ae6b-00144feabdc0.html#axzz37Rb1z0FO

So, I can't imagine WSP will be rushing back to buy Sweett Group, one of Britain's oldest quantity surveyors, anytime soon.