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:
9 October 2015.


The new politics

It might be easy to dismiss Labourís new leader as an irrelevance who will never win office, but his presence on the political stage will have important impacts

History Lessons

Mark Giblett, the former group head of project finance for Asia at SMBC, surveys the Asian PPP landscape and tells Paul Jarvis how governments are learning from past mistakes


Register now to get un-restricted access to all sections of the website.

Want to see more first? Try our free preview...