Disposal

Carillion PLC 31 March 2006 Carillion completes sale of US construction management business, Charter. Further to its announcement on 18 January 2006, support services and construction company Carillion plc has completed the sale of Charter, a US construction management business, to Balfour Beatty. The consideration paid in respect of this sale is £13.7 million, in cash. Charter, formerly part of Mowlem plc, which Carillion acquired on 23 February 2006, is a non-core business that does not fit Carillion's strategy for growth. In 2004, Charter had sales of £95 million, profit before tax of £2.2 million, which included £0.4 million of income, which in the opinion of the Carillion Board is expected to be non-recurring. Its gross assets at 31 December 2004 were £22.3 million. The consideration allows for £3.7 million of cash in Charter, surplus to normalised working capital requirements. Balfour Beatty has also repaid a £3.6 million debt owed by the Carillion Group to Charter. Carillion will use the proceeds from the sale to reduce its debt. For further information contact John Denning, Director Group Corporate Affairs Carillion plc 01902 316426 This information is provided by RNS The company news service from the London Stock Exchange

Companies

Carillion (CLLN)
UK 100

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