Mota-Engil set for €1.5bn value

 
Michael Bow
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AFRICAN based bridge builder Mota-Engil Africa yesterday unveiled plans to raise cash on the London stock market.

The main market listing, led by Standard Bank, is expected to value the group at about €1.5bn (£1.2bn).

The firm did not say how much it will raise, though it plans to sell 25 per cent of the company to investors.

The company, which also constructs roads and other infrastructure, is currently owned by Portuguese parent Grupo Mota-Engil and provides about two-thirds of Grupo Mota-Engil’s operating profits.