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Carillion reveals multiple offers for UK healthcare unit

Shares in Carillion have jumped after the troubled firm confirmed it has received multiple offers for its UK healthcare business. 

In a stock market filing responding to “media speculation”, the company said it had had proposals from “more than one credible counterparty” for the division.

The news has seen Carillion’s share price rise nearly 5 per cent today to 45p, but its stock remains in the doldrums. 

Carillion is hoping to raise as much as £300m by selling its UK healthcare arm, as it grapples with the fallout from a £1.15bn half-year loss reported last month alongside a £200m writedown on its support services business.

This followed a profit warning in July, when the contractor revealed a £845m writedown on problem construction contracts. 

It is also looking to offload its Canadian business in an effort to shore up its balance sheet. 

The Wolverhampton-based firm’s July profit warning led to its chief executive Richard Howson stepping down. 

Reports earlier this week suggested Carillion’s creditors are rushing to appoint advisers amid speculation the firm will restructure its debt pile.

In an update last month, interim chief executive Keith Cochrane said the firm had cut £10bn from its potential project pipeline as part of a new approach to winning work. 

Mr Cochrane also admitted to Construction News that he was “bemused” by the risk-reward ratio in construction

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