Tuesday, 28 April 2015

Finally - Kier announces takeover of Mouchel

I'm glad to see that Kier Group has finally announced the £265 million takeover of Mouchel. Readers might recall that I broke the story late last year on Tip TV and Betaville - here is a link http://betaville123.blogspot.co.uk/2014/11/banks-edge-closer-to-400-million.html - that Kier Group was in talks to buy Mouchel for a decent chunk of change.

Kier is funding the deal with a £340 million equity capital fundraising.

Here is the main part of this morning's deal announcement:

PROPOSED ACQUISITION OF MOUCHEL AND FULLY UNDERWRITTEN £340 MILLION RIGHTS ISSUE
Kier, the FTSE 250 property, residential, construction and services group, announces that it has entered into a conditional agreement to buy the entire issued share capital of MRBL Limited ("Mouchel"), the leading provider of repair and maintenance services to the UK strategic road network and an international infrastructure and business services group.

Highlights
Mouchel is an international infrastructure services and business services group. It provides advisory, design, project delivery and managed services to the highways and transportation, local government, property, emergency services, health, education and utilities markets in the United Kingdom, the Middle East and Australia. It is the leading provider of repair and maintenance services to the UK strategic road network.
  • The combination of Kier and Mouchel brings together Mouchel's leading position in strategic highways services with Kier's presence in the local authority roads market and creates a sector leader in the growing UK highways maintenance and management market.
  • The Acquisition positions Kier to benefit from the new Road Investment Strategy (''RIS'') which sets out a long-term investment plan of £17 billion of total expenditure on the maintenance, renewal and enhancement of the strategic road network from 2015 to 2020, with annual expenditure increasing from £2.9 billion to £4.1 billion over the same period.
  • The Board believes that the strategic rationale for the Acquisition is compelling and is aligned to Kier's Vision 2020, representing an excellent opportunity to accelerate Kier's strategy for growth in the infrastructure sector.
  • Kier has agreed to acquire Mouchel for a total consideration of £265 million in cash from the Mouchel Sellers to be financed by a £340 million fully underwritten rights issue. Under the Rights Issue, New Shares will be issued at 858p per New Share on the basis of 5 New Shares for every 7 Existing Shares.
  • The proceeds from the Rights Issue will also be used to repay Mouchel's net debt at the time of the Acquisition, finance the integration costs of the Acquisition and pay the costs and expenses associated with the Rights Issue and Acquisition. 
  • Mouchel reported group revenue (including share of JVs) of £616.6 million and underlying operating profit of £27.7 million for the year ended 30 September 2014. Revenues for the three months ended 31 December 2014 increased by 38 per cent. compared to the same period in the previous year.
  • The Acquisition is anticipated to deliver pre-tax cost synergies of approximately £10 million in the financial year ending 30 June 2017, with integration costs of the Acquisition expected to be approximately £17 million.
  • The Acquisition is expected by the Board to be materially earnings enhancing for Kier for the financial year ending 30 June 2016, the first full financial year following Completion, and to deliver a ROCE of at least 15 per cent. in the financial year ending 30 June 2017. 
  • The Acquisition creates an Enlarged Group with a pro forma combined order book of £9.3 billion (as at 31 March 2015), comprising Kier's order book of £6.5 billion and Mouchel's order book of £2.8 billion.
  • Kier's current trading is in line with the Board's expectations.

16 comments:

  1. Hello Everyone I am Daniel Steve from Texas, USA. I will like to share the goodness of God in my life after so many months of trying to get a loan on the internet and was been scammed so i became restless and desperate in getting a loan from a legit lender online. But as God would have it, i saw a comment from a friend called William Ken and he talked about this legit loan company where he got his loan fast and easy without any stress so he introduced me to a man called Mr Mason Diego who controls a firm called Diego Loan Company, So i applied for a loan sum of ($170,000.00USD) with low interest rate of 2%, so the loan was approved and deposited into my bank account in less than 48hrs, that was how i was able to get back on my feet to keep my broken business running and also to pay off my bills so i am advising everyone of you who is interested in getting a loan without collateral, no credit check, no co signer with just 2% interest rate and better repayment plans/ schedule, to please contact Mr Mason Diego. You can contact him through his email: diegoloancompany@yahoo.com

    ReplyDelete
    Replies
    1. To properly introduce myself, I'm Mr. Micheal Benson a private lender,i Give out loans at 3% interest rate, this a financial opportunity. at your door step, get your loan quickly. There's so much people out There looking for financial opportunities or help around the corner, and Places, and still they are not able to get one, but here it is. Financing opportunities on your door step and as such you can not afford To miss this opportunity This service is made to Individuals, companies, businessmen and women, and loans.The availability of any amount of your choice for more information. Contact us via email: michealbensonloanagency@gmail.com.
      Loan application form and return it.
      Full Name .................
      Private phone number ................
      Country .................
      Address ................
      State ..............
      Age ..............
      You have applied before or not. .............
      Status ..............
      Loan amount needed. ..................
      Loan period ................
      Occupation.................
      Monthly Income ...............
      In recognition of these details we will send you our agreement with the repayment schedule, and if you agree to the Terms and Conditions, you stand to get your loan within 24 hours, depending on the severity and urgency,and trust.I am waiting for your quick response.
      Yours truly
      Micheal Benson

      Delete
    2. HOW I GOT MY LOAN FROM HERMAN CEIN LOAN FINANCE (CEINLOANFINANCE@YAHOO.COM)

      Hello everyone, My name is Morgan Steev white, I am from the New Jersey, United State, am here to testify of how i got my loan from Mr Herman Cein { ceinloanfinance@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right here this forum,i thought their lending where real and i applied but they never gave me loan until a friend of mine introduce me to Mr Herman Cein the C.E.O of Herman Cein Loan Finances who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Herman Cein, who really helped me with my loan and changed my life for the better. I don't know if you are in need of an urgent loan also, So feel free to contact Mr Herman Cein on his email address: { Ceinloanfinance@yahoo.com} Website: hermanceinloanfinance.bravesites.com

      Delete
    3. HOW I GOT MY LOAN FROM HERMAN CEIN LOAN FINANCE (CEINLOANFINANCE@YAHOO.COM)

      Hello everyone, My name is Morgan Steev white, I am from the New Jersey, United State, am here to testify of how i got my loan from Mr Herman Cein { ceinloanfinance@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right here this forum,i thought their lending where real and i applied but they never gave me loan until a friend of mine introduce me to Mr Herman Cein the C.E.O of Herman Cein Loan Finances who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Herman Cein, who really helped me with my loan and changed my life for the better. I don't know if you are in need of an urgent loan also, So feel free to contact Mr Herman Cein on his email address: { Ceinloanfinance@yahoo.com} Website: hermanceinloanfinance.bravesites.com

      Delete
    4. Good day Audience,

      I am Carolyn V. Metnick,from Ohio USA, i want to use this great medium to announce this lender Elvin Morrison who is really a God sent to my family. few months back i was in search of a loan from the internet where i was scammed of $3250.00, i never thought i will ever apply for a loan on the internet again before i met a post about this lender made by one Maury who also got a loan from them, then i took a try again, after loan processing i was ask to provide my banking details which i did and to my greatest surprise i was granted a loan of $45,000.00 at first i thought it was a joke until i got to the bank to confirm and it was true, i was overwhelmed with joy. so i want you all who desire a loan and are capable of paying back the funds at the due time to contact: elvinloancompany@yahoo.com or on our web page http://elvinloancompany.bravesites.com and be a partaker of my testimony ....

      Delete
  2. I am ROSE SMITH from CANADA a single parent, before my husband died he left us with so much DEBT that we could not cope with life, I was totally confused on what to do. When I was going through the internet I came across a POST by MARCUS CAFE about how Mrs JULIA NAVARO help him to get a loan so I applied for the loan from JULIA NAVARO through her mail (navaroloancompany@yahoo.com) of $200,000 with a duration of 10 years. When I was applying for the loan I made a vow to GOD that if I get the loan I will let the world know what she did for me, to my greatest surprise my loan was granted with
    an interest of 2%. I was able to settle my debt and start up a new life and business with a settled family. So if you want any type of loan for as low as 2% please contact JULIA NAVARO on her mail navaroloancompany@yahoo.com.I just fulfilled my vow.

    ReplyDelete
  3. Hello everyone am here to testify how i got my loan from Mr Akisu. after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Akisu. who promised to help me and indeed he did as he promised without any form of delay.I never thought there are still reliable loan lenders until i met Mr.Akisu,who are indeed helped with the loan and changed my belief.I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr.Akisu via his email{Akisuloancompany@gmail.com} Thank you may God bless you

    ReplyDelete
  4. Good day Friends. I am Mrs Anita a single mom, from canada, I love to share this great testimony that took place in my life for you to know and be partaker of it that is why I always place it on answer, I want to thank (Mr robert) for his kindness upon my family. Just a few months Back, I was in search of a loan of $65,000.00 as I was running out of money for my business and i could not pay my children's fees anymore. I was recently scammed of $8,500 by an online lender and I decided not to get involve in such risk again I never knew that a real lender like (Mr.robert) still exist on internet and on earth here. until a Friend of mine introduced me to {Mr Robert} At first I told her I was not interested in any loan deal anymore then she assured me that (Mr.robert) is a genuine lender, though i never believed her, I made a trial and I am glad i did, I was given a loan amount of $65,000.00, by this so i am advising you today If you are interested in a loan, or any financial assistance and you can be reliable, trusted and capable of paying back at the due time of the funds I will advice you to contact:(robertfinancial_loancompany@yahoo.com) and you be free from scams in the internet. All thanks to Mr.robert for restoring happiness unto my business.

    ReplyDelete
  5. To properly introduce myself, I'm Mr. Micheal Benson a private lender,i Give out loans at 3% interest rate, this a financial opportunity. at your door step, get your loan quickly. There's so much people out There looking for financial opportunities or help around the corner, and Places, and still they are not able to get one, but here it is. Financing opportunities on your door step and as such you can not afford To miss this opportunity This service is made to Individuals, companies, businessmen and women, and loans.The availability of any amount of your choice for more information. Contact us via email: michealbensonloanagency@gmail.com.
    Loan application form and return it.
    Full Name .................
    Private phone number ................
    Country .................
    Address ................
    State ..............
    Age ..............
    You have applied before or not. .............
    Status ..............
    Loan amount needed. ..................
    Loan period ................
    Occupation.................
    Monthly Income ...............
    In recognition of these details we will send you our agreement with the repayment schedule, and if you agree to the Terms and Conditions, you stand to get your loan within 24 hours, depending on the severity and urgency,and trust.I am waiting for your quick response.
    Yours truly
    Micheal Benson

    ReplyDelete
  6. HOW I GOT MY LOAN FROM HERMAN CEIN LOAN FINANCE (CEINLOANFINANCE@YAHOO.COM)

    Hello everyone, My name is Morgan Steev white, I am from the New Jersey, United State, am here to testify of how i got my loan from Mr Herman Cein { ceinloanfinance@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right here this forum,i thought their lending where real and i applied but they never gave me loan until a friend of mine introduce me to Mr Herman Cein the C.E.O of Herman Cein Loan Finances who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Herman Cein, who really helped me with my loan and changed my life for the better. I don't know if you are in need of an urgent loan also, So feel free to contact Mr Herman Cein on his email address: { Ceinloanfinance@yahoo.com} Website: hermanceinloanfinance.bravesites.com

    ReplyDelete
  7. HOW I GOT MY LOAN FROM HERMAN CEIN LOAN FINANCE (CEINLOANFINANCE@YAHOO.COM)

    Hello everyone, My name is Morgan Steev white, I am from the New Jersey, United State, am here to testify of how i got my loan from Mr Herman Cein { ceinloanfinance@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right here this forum,i thought their lending where real and i applied but they never gave me loan until a friend of mine introduce me to Mr Herman Cein the C.E.O of Herman Cein Loan Finances who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Herman Cein, who really helped me with my loan and changed my life for the better. I don't know if you are in need of an urgent loan also, So feel free to contact Mr Herman Cein on his email address: { Ceinloanfinance@yahoo.com} Website: hermanceinloanfinance.bravesites.com

    ReplyDelete
  8. Good day Audience,

    I am Carolyn V. Metnick,from Ohio USA, i want to use this great medium to announce this lender Elvin Morrison who is really a God sent to my family. few months back i was in search of a loan from the internet where i was scammed of $3250.00, i never thought i will ever apply for a loan on the internet again before i met a post about this lender made by one Maury who also got a loan from them, then i took a try again, after loan processing i was ask to provide my banking details which i did and to my greatest surprise i was granted a loan of $45,000.00 at first i thought it was a joke until i got to the bank to confirm and it was true, i was overwhelmed with joy. so i want you all who desire a loan and are capable of paying back the funds at the due time to contact: elvinloancompany@yahoo.com or on our web page http://elvinloancompany.bravesites.com and be a partaker of my testimony ....

    ReplyDelete
  9. Do you need a loan? Have you been looking for where to get a loan? Have you been trying to get any kind of loan? then apply now at ?(carlosellisonfinance@outlook.com) if you want to get an affordable loan. Loan is offered here at a very low interest rate of 2%. Contact us now if you are interested.

    ReplyDelete
  10. We wish to give out loan to whom ever that is in need of a loan at interest rate of 3%, We give out loan from the minimum of 5,000.00 usd to the maximum 100 million dollars, pounds, euros, If interested, Contact us via email: johnpotto4@gmail.com

    ReplyDelete
  11. I’m Rosa María Ricardo by name. I live in Spain, i want to use this medium to alert all loan seekers to be very careful because there are scammers everywhere.Few months ago I was financially strained, and due to my desperation I was scammed by several online lenders. I had almost lost hope until a friend of mine referred me to a very reliable lender called Mr.Jonny Brennan, who lend me an unsecured loan of $75,000 under 2hours without any stress. If you are in need of any kind of loan just contact him now via: jonny_brennanfinance@outlook.com I‘m using this medium to alert all loan seekers because of the hell I passed through in the hands of those fraudulent lenders. And I don’t wish even my enemy to pass through such hell that I passed through in the hands of those fraudulent online lenders,i will also want you to help me pass this information to others who are also in need of a loan once you have also receive your loan from Mr.Jonny Brennan, i pray that God should give her long life.

    ReplyDelete