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Genivar to take WSP name following £278m merger

Genivar will drop its name following its merger with WSP, with the new firm set to be named WSP Global.

Genivar president and chief executive Pierre Shoiry said that the new firm was now active in more than 35 countries and expected to adapt its name from 1 January 2014.

The engineering and design consultancies finalised their merger in August 2012 following a £278m deal that formed a company with a revenue of £1.1bn and 14,500 employees working in 300 offices.

Mr Shoiry said: “WSP’s strong presence around the world and its global recognition in a number of market segments has led us to make the logical choice of changing the Genivar name to WSP, which will be gradual and performed as appropriate after the reorganisation is completed, and following a schedule to be determined.

“This choice is the first step in our strategy to build a leading global consultancy around one unified and strong brand, ‘WSP’, which we will be proud to leverage in all the regions where we operate,” he added.

The group will form a holding structure under which it will form separate regional operations in distinct subsidiaries.

The restructure and naming decisions are subject to a shareholders vote on 23 May, in which the arrangements must receive no less than two-thirds of the votes cast by shareholders voting in person or by proxy.

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