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Costain sells Alcaidesa business for €15.2m
11th Dec 2019 07:42
(Sharecast News) - Infrastructure solutions group Costain has agreed to sell its Alcaidesa business, which owns and operates two golf courses in Cadiz, Spain, for €15.2m in cash.
The company said on Wednesday that it would book a loss of £8.9m from the sale, which will be included in its 2019 financial statements as a one-off non-cash charge.
Costain also said it was looking for a potential buyer for its 624-berth marina concession.
"The disposal and the potential disposal of the marina concession is part of Costain's strategy to divest its non-core business assets in Spain," it said.
At 1030 GMT, the shares were down 1.4% at 19p.
The company said on Wednesday that it would book a loss of £8.9m from the sale, which will be included in its 2019 financial statements as a one-off non-cash charge.
Costain also said it was looking for a potential buyer for its 624-berth marina concession.
"The disposal and the potential disposal of the marina concession is part of Costain's strategy to divest its non-core business assets in Spain," it said.
At 1030 GMT, the shares were down 1.4% at 19p.