Renew Holdings PLC - Leeds, England-based company involved in the maintenance and renewal of critical infrastructure networks in the UK - Announces the disposal of Walter Lilly & Co Ltd for a nominal consideration on a cash free and debt free basis to Size Holdings Ltd, a London-based provider of premium quality construction, specialist crafts and maintenance services. Size Holdings will assume any ongoing liabilities related to Walter Lilly. Renew Holdings says the disposal will enhance its operating margins and is consistent with the group’s strategic focus on specialist engineering, as the company targets end markets delivering maintenance and renewal programs benefitting from long-term, non-discretionary funding programs. Renew Holdings continues to strengthen its position in its long-term growth markets.
Current stock price: 1,125.96 pence, down 0.9% in London on Friday morning
12-month change: up 63%
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