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Amec completes Projects Investment sale

Amec has completed the sale of its Projects Investment business, including the management team and eight PFI deals, to Land Securities Trillium for £152.4 million in cash.

The sale was announced on 12 July 2007, subject to receiving consents from public authorities, shareholders and lenders.

Amec said it will also sell LST its shares in two PPP road projects for £11.1 million. That sale is expected to complete in December 2007.

The LST transaction does not include Amec's investments in the Incheon Bridge Project in Korea and AMEC Wind’s assets and business.