Amec buys stake in Brazilian firm

■ International engineering and project management firm Amec has acquired a 50 per cent stake in Brazilian Kromav Engerharia in a $12.5m (£7.7m) deal.

Completion is expected later this year.

The acquisition of Kromav, a privately-owned offshore oil and gas engineering firm based in Rio de Janeiro, is a strategic move for Amec, which wants to develop its service capabilities in the Latin American country.