Amec in talks over Spie Batignolles sale

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AMEC, the UK engineering group, has said it has entered into a period of exclusive negotiations with the managers of France-based Spie Batignolles over a potential sale of the regional construction business.

Amec acquired an outstanding 54 per cent of the whole Spie group, which owns Spie Batignolles, in March for an aggregate of 270 million.

Amec said it had completed its review of the business - outlined in its annual report last month - and the management of the construction unit has offered to buy 51 per cent of the business.

Amec shares closed down 3 per cent at 230p.

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