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Serco in talks with Amec over sale of nuclear advice business
OUTSOURCER Serco said yesterday that it was in talks with Amec over the sale of its technical consulting business (TCS). Serco’s TCS provides provides safety advice to the nuclear industry. Amec, an engineering consultancy to the energy sector, has yet to make any formal offer the two companies said. Serco bought TCS for £75m in 2001. It has revenues of £70m per year.
Amec said last month it is expecting double digit revenue growth in 2012 and has a strong order book.
Analysts had expected the company to start making acquisitions.
A statement from FTSE 100-listed Serco said: “There is no certainty that a transaction will proceed. A further announcement will be made in due course.”