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Buyout puts Hyder in a state of flux

THE FUTURE of Hyder Consulting will be thrashed out at a meeting in two months with new owner Nomura.

Managing director Tim Wade said it was 'business as usual' at the firm for its 3,000 staff after parent Hyder agreed a £402 million buyout by the Japanese investment bank this week.

He said: 'The new owners will be busy looking at the water and electricity sides of the group before they get round to us.

'I expect that meeting to take place in a couple of months. Until then it is business as usual and not a case of the for-sale signs going up as soon as the new owners come in.'

Nomura bosses also denied any plans to sell off parts of the group.

Mike Kinski, who will be installed as new head of Hyder, said: 'Speculation of selling businesses is far too early.

'We have no firm plans to sell businesses but, as we grow these businesses, a sale may become an option.'