Saturday, 29 November 2014

Banks edge closer to £400 million Mouchel sale; Kier in the running

It sounds like the Mouchel sale I was talking about on Tip TV yesterday morning is getting closer to completion.

Some of my best sources got in touch after yesterday's session on Tip TV. They believe Mouchel and its advisers at NM Rothschild are now in very serious/advanced discussions about a deal with at least one buyer, and I think the purchaser could very well be Kier Group.

Well, I know at least that Kier has been having a good look at Mouchel and participating in the auction being run by NM Rothschild although I am not sure how it plans to fund the deal.

I have also been told by sources close to the matter that Mouchel is likely to be sold for around £400 million, which is quite some turnaround from when lending banks took control of the business in 2012.

People close to Mouchel are still insisting a flotation is the "preferred" route but have also admitted the company is weighing a sale.

Mouchel and Kier both declined to comment.

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