Modular Connections

Friday, November 25, 2005

Amec break up 3 ways

Spie, the French division of Amec is the first component to be sold off as part of the 3-way split which was also see the demerging of the UK infrastructure arm of the business. The final, streamlined version of Amec will consist of its international oil, gas and nuclear engineering division, valued at £4.5bn, half of Amec's current value.

The break-up comes after a 10% increase in share value last month, although bosses claim the decision has not been made in response to hostile take-over bids.

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