Guest guest Posted September 29, 2006 Report Share Posted September 29, 2006 Severn Trent Sells U.S. Testing Arm Monday September 25th, 2006 / 15h34 Edited Press Release LONDON -(Dow )- Severn Trent announced Monday the sale of its U.S. analytical environmental testing firm Severn Trent Laboratories (STL) to TestAmerica Holdings, an affiliate of H.I.G. Capital, for a cash consideration of approximately GBP85 million. The transaction is subject to U.S. regulatory approval and is expected to be completed by the end of December 2006. STL U.K. will remain part of the Severn Trent group. Mr Colin s, Group Chief Executive, said " We announced in June that following our decision to demerge Biffa we wanted to concentrate on water. Therefore STL U.S. was no longer regarded as core. Monday's announcement continues our strategic drive to create value through a focus on water. " STL Chief Executive Officer Brydon Jannetta will remain with STL U.S. and resign from the Severn Trent Plc Board on completion of the deal I wonder how this will play out between Aerotech and Emlab? Quote Link to comment Share on other sites More sharing options...
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