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Renew Holdings - Enters highways sector with £38m deal

March 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • RNWH
  • Price:
  • 506p
Renew has announced the expected entry into  the highways sector, a new growth sector. It is buying Carnell for £38m on a cash-free, debt-free basis. To part fund the deal there has been a placing of 3.15m new shares at 475p to raise £15m.   Staffordshire-based Carnell  provides specialist engineering services as a tier 1 contractor to Highways England, operating under a number of framework agreements as well as providing sub-contract services to other providers. It has a directly employed workforce of over 230 and its services include groundworks, fencing and geotechnical works on renewals and maintenance infrastructure schemes across the UK. It also provides specialist drainage, lighting & electricals and roadside communicati ...

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