UK consultant Mouchel to be sold for £265m
UK consultant Mouchel has agreed the group will be sold to UK contractor Kier for £265m ($409m).
The Mouchel board says Mouchel and Kier will provide even greater opportunities for staff and clients, and will be a sector leader in several key UK markets.
Both companies operate in the Middle East. Kier is targeting work in the regions building sector as it aims to expand its presence in the region. Last year, the company was awarded an estimated AED150m ($41m) contract by the Dubai Chamber of Commerce for the construction of a new campus for the University of Dubai in the Academic City area.
Mouchel worked extensively in Dubai before the 2008 property crash. In 2009, it said it would close its Dubai operations as it was owed £10m ($16m) from its clients in the emirate. Since then it has re-established itself in the region.