27 February 2008

After rebuffing two previous offers, Alfred McAlpine has accepted a UK€ 5.85 (US$ 11.99) per share takeover offer from UK rival Carillion, which values the company at UK€ 600 million (US$ 1.23 billion). The offer comprises a mix of 25% cash and 75% Carillion shares, which will be newly issued.

In a separate development, Alfred McAlpine has announced the sale of its interest in six Private Finance Initiative (PFI) concessions in the UK roads, education and healthcare sectors for UK€ 52.2 million (US$ 107 million).

PFI is the UK model for public-private partnership (PPP) government concessions. The buyer is a specialist infrastructure investor, Investors Limited Partnership (I2).

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