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Mouchel calls in Goldman Sachs

Troubled consultant Mouchel has hired Goldman Sachs to advise on how to deal with its substantial debt pile.

According to reports in the Sunday Times, the bank will consider a debt-for-equity swap which would rest control of the company from shareholders, putting its lenders in charge.

A break of the company is also reported to be an option.

Mouchel’s share price has fallen around 90 per cent in the last year after failed takeover bids from Costain and Interserve.

It issued an £8.5 million profit warning in October and has an estimated £90m of debt.

The company sold its rail and pipeline design businesses last year.

Mouchel declined to comment on the Sunday Times’ report.

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