Sweett sale turns sour

20 July 2012 Consultancy Sweett Group has announced it has stopped efforts to sell its stake in one of its Scottish schools PFI contracts.
Last month, Sweett announced a delay to the sale of two school PFI deals in Scotland would impact its results, and the firm delayed publishing its annual results in the hope of getting the deals signed off.

However, it has now announced that the board has decided it is now in the shareholders’ interests to complete the sale of the Dumfries and Galloway transaction “via an alternative disposal structure”.

The firm did not elaborate, other than to say it remains confident it can dispose of the asset “in the current financial year”.

Meanwhile, it said the other transaction, for the Inverclyde Schools PFI contract, continues to move towards completion.

This page was last updated on:
28 October 2014.

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