{"id":487,"date":"2018-11-15T08:18:26","date_gmt":"2018-11-15T08:18:26","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=487"},"modified":"2018-11-15T08:18:26","modified_gmt":"2018-11-15T08:18:26","slug":"kier-raises-24m-from-australian-road-business-sell-off","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/kier-raises-24m-from-australian-road-business-sell-off\/","title":{"rendered":"Kier raises \u00a324m from Australian road business sell-off"},"content":{"rendered":"<p class=\"bk\"><span class=\"be\">K<span class=\"ba\">ier has struck a deal to sell its stake in Australian road assets and management services business KHSA to joint venture partner Downer.<\/span><\/span><\/p>\n<p>Downer will pay \u00a324m in cash\u00a0for the stake when the deal\u00a0completes\u00a0in early 2019.<\/p>\n<p class=\"bk\"><span class=\"be\">KHSA<\/span><span class=\"be\">, which was acquired as part of the Mouchel<\/span><span class=\"be\">\u00a0group of companies<\/span><span class=\"be\">\u00a0in 2015<span class=\"ba\">, <\/span><\/span><span class=\"be\">reported<\/span><span class=\"av\">\u00a0<\/span><span class=\"be\">a<\/span><span class=\"be\">\u00a0<\/span><span class=\"be\">\u00a37<\/span><span class=\"be\">m<\/span><span class=\"be\">\u00a0profit last year and has total assets\u00a0<span class=\"ba\">of<\/span><\/span><span class=\"be\">\u00a0\u00a352<span class=\"ba\">m.<\/span><\/span><\/p>\n<p class=\"p1\">\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a data-ad-id=\"93789\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fwww.constructionline.co.uk%2Fevents%2F\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"http:\/\/www.constructionenquirer.com\/wp-content\/uploads\/Constructionline-MeetTheBuyer-295x245-v4.gif\"\/><\/a><\/div>\n<\/div>\n<p class=\"bk\"><span class=\"as\">The\u00a0<\/span><span class=\"be\">p<\/span><span class=\"be\">roceeds from the sale will be used to accelerate the reduction of Kier<\/span><span class=\"be\">&#8216;s<span class=\"ba\">\u00a0<\/span><\/span><span class=\"be\">net debt.<\/span><span class=\"aw\">\u00a0<\/span><\/p>\n<div class=\"standfirst\">\n<p>Kier is aiming to raise up to \u00a350m from non-core business disposals as part of a plan to cut its debt mountain of \u00a3375m.<\/p>\n<p class=\"p1\">\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a data-ad-id=\"122797\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=http%3A%2F%2Fwww.google.com%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"\"\/><\/a><br \/>\n<SCRIPT language='JavaScript1.1' SRC=\"https:\/\/ad.doubleclick.net\/ddm\/adj\/N6250.2036112CONSTRUCTIONENQUIRE\/B20509350.215447096;sz=300x250;ord=[timestamp];dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=?\"><br \/>\n<\/SCRIPT><\/div>\n<\/div>\n<p>Two months ago\u00a0Kier has sold its third-party pension management business for \u00a33.5m.<\/p>\n<p>Alongside \u00a320m annual savings from its Future Proofing Kier streamlining programme, the group aims to reduce debt to \u00a3250m and be in a net cash position by 2021.<\/p>\n<p class=\"p1\">\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a data-ad-id=\"242816\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fachilles.pages.salesfusion.com%2FBuildingConfidence_Advert_Campaign-Leads_Supplier-2%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"http:\/\/www.constructionenquirer.com\/wp-content\/uploads\/BuildingConfidence-Supplier-DIGITAL-MPU-300x250-for-web.jpg\"\/><\/a><\/div>\n<\/div>\n<p class=\"p1\">\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a data-ad-id=\"216019\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fnoticeboard-auth.conquest.ltd.uk%2Fhome%3Futm_campaign%3Dnotice_board%26utm_medium%3Dbanner%26utm_source%3Dconstruction_enquirer\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"http:\/\/www.constructionenquirer.com\/wp-content\/uploads\/Noticeboard-Advert-Con Enq (1).gif\"\/><\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"entry-thumbnail image-wrap\"><\/div>\n<p>from Construction Enquirer https:\/\/ift.tt\/2OJATz1<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kier has struck a deal to sell its stake in Australian road assets and management services business KHSA to joint venture partner Downer. Downer will pay \u00a324m in cash\u00a0for the stake when the deal\u00a0completes\u00a0in early 2019. KHSA, which was acquired as part of the Mouchel\u00a0group of companies\u00a0in 2015, reported\u00a0a\u00a0\u00a37m\u00a0profit last year and has total assets\u00a0of\u00a0\u00a352m. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":149,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=487"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/487\/revisions"}],"predecessor-version":[{"id":488,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/487\/revisions\/488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/150"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}