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Pin to quick picksKier Share News (KIE)

Share Price Information for Kier (KIE)

London Stock Exchange
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Share Price: 136.20
Bid: 135.80
Ask: 136.40
Change: -1.20 (-0.87%)
Spread: 0.60 (0.442%)
Open: 137.60
High: 137.60
Low: 134.80
Prev. Close: 137.40
KIE Live PriceLast checked at -

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CORRECT: Kier agrees GBP9.6 million deal to acquire UK rail assets

Tue, 05th Sep 2023 09:40

(Correcting the currency to GBP.)

Kier Group PLC - Manchester, England-based construction firm - Agrees to acquire substantially all the rail assets from Buckingham Group Contracting Ltd and their High Speed Two contract supplying Kier's HS2 joint venture, EKFB, for a total consideration of GBP9.6 million in cash. Says: "Given its modest size, the board does not believe this acquisition will materially impact the group's forecasts for [financial] 2024, nor its year end or average net cash position."

Kier Chief Executive Officer Andrew Davies says: "We have previously stated that we would consider value accretive acquisitions in core markets where there is potential to accelerate the medium-term value creation plan. This acquisition is one such example - it is an excellent strategic fit and accelerates our rail strategy, providing work with new rail clients and increasing our capabilities. I am delighted to welcome our new employees, clients and suppliers to Kier."

Current stock price: 84.00 pence

12-month change: up 19%

By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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