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Interserve 'looking at sale' of RMD Kwikform

Interserve is drawing up plans to sell its £250m equipment services arm to its lenders, according to a report.

Sky News has reported that Interserve and its advisers are examining the option of spinning off its profitable RMD Kwikform business to the holders of hundreds of millions of pounds of its debt.

Interserve recently announced it was in talks with lenders to refinance its business.

The broadcaster reported the proposal would leave the rest of Interserve as a more focused support services business.

The report claimed that the plan is at an early stage and may not get formal approval from Interserve’s board, although it is said to have indicative support from some of the company’s lenders.

Such a move was considered two years ago, but after an eight-month review Interserve made the decision to instead invest £17m into the division.

A spokesman for Interserve declined to comment.

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