Mid-cap round up: Morgan Sindall, Petrofac, Lipoxen

1st Apr 2010 14:42

Morgan Sindall, the construction and regeneration group, said its Infrastructure Services division has been selected by E.ON for a 10-year framework contract, covering E.ON's Central Networks eastern region, with an estimated value of £500m.The programme of works will include capital asset replacement and reinforcement to overhead lines and underground cables up to 33kV. In addition, the group will carry out works to replace distribution plant and remedial work programmes, which include building, civil engineering works and the inspection and maintenance of the distribution network up to 132kV.Oil fabrications giant Petrofac has acquired Stephen Gillespie Consultants, a UK-based provider of metering services and systems, for an initial cash consideration of £2.1m. A further consideration of up to £1.4m will be payable in cash over two years, subject to achieving certain agreed performance targets.Pharma group Lipoxen announced a share placing to raise about £1.2m to strengthen its balance sheet and said it expects its project base to return significant license fee income going forward.