FTSE 250-listed construction firm Interserve has agreed to offload its Haymarket site in Edinburgh to M&G Real Estate for a total of £49.1m
The City watchdog's enforcement division has launched an investigation into Interserve's handling of inside information and its disclosures to the market over its troublesome exit from the energy-from-waste business.
Construction and outsourced services group Interserve saw losses more than doubled last year but after completing a refinancing is feeling stable and looking to return to growth.
Support services and construction company Interserve said on Wednesday that it is seeking to convene a general meeting to obtain shareholder approval to increase its borrowing limit as it expects significant balance sheet writedowns.
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Interserve agreed terms on almost £300m of new funding from lenders overnight, though analysts said it was at a rather steep cost in terms of interest payments and shareholder dilution.
Interserve shares surged more than 40% on Thursday afternoon, exerting a deep squeeze on one of the most shorted stocks on the London Stock Exchange.
Interserve is coming under particularly close attention by the government after the collapse of rival contractor Carillion, according to new reports.
News that Interserve was being closely monitored by the UK government after collapse into insolvency of contracting peer Carillion sent its shares tumbling on Wednesday.
Support services and construction group Interserve has been awarded a £37m, four-year passenger support contract with Spanish airports operator, AENA.
Support services and construction group Interserve reported a more "consistent" trading performance for its financial year after issuing a pair of profit warnings in the autumn.
Support services and construction group Interserve has won a £140m contract with the BBC to continue providing facilities services until 2023.
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Interserve has won a major facilities management contract with the UK government, as chatter about a possible bid for the troubled company grew louder after a succession of profit warnings this year.
Support services and construction group Interserve issued a second profit warning in as many months, as well as confirming it could breach banking covenants and had made further provisions for its exit from Energy from Waste contracts.
Interserve on Monday said that it is "engaged in constructive and ongoing discussions with its lenders", confirming rumours that had been mooted in the media.
Support services and construction group Interserve has been awarded a contract worth more than £70m by Dandara Limited to design and build a residential development in Leeds comprising 744 apartments.
International support services and construction group Interserve has won a place on the Homes and Communities Agency's £8b 'Delivery Partner Panel 3' (DPP3) framework, the company confirmed on Wednesday.
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