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Newfoundland & Labrador > Business > Reuters

AECOM nears $2.4 billion sale of management services unit: Bloomberg

Reuters | Posted: Oct. 14, 2019, 2:10 a.m. | Updated: Oct. 14, 2019, 1:02 a.m. | 1 Min Read

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(Reuters) - U.S. construction and engineering firm AECOM is nearing a $2.4 billion deal to sell its management services unit to a consortium of private equity firms, Bloomberg reported on Sunday.

The deal to sell the unit to the consortium of private equity firms that includes Lindsay Goldberg and American Securities could be announced as early as Monday, the report said https://www.bloomberg.com/news/articles/2019-10-13/aecom-nears-2-4-billion-deal-to-sell-management-services-unit.

Earlier this year, AECOM had announced plans to spin off its management services division, after which activist investor Starboard Value urged the company to consider a strategic review of its assets.

AECOM and Lindsay Goldberg did not immediately respond to a request for comment. American Securities declined to comment.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Muralikumar Anantharaman)

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