Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Kentz Has No Plan to Sell Itself as Backlog Reaches Record

Aug. 27 (Bloomberg) -- Kentz Corp., the oil engineering company targeted by two prospective bidders in recent months, said it’s not looking to sell itself as orders rose to a record.

Both takeover approaches were “unanimously rejected,” Chief Executive Officer Christian Brown said today in a telephone interview. “We’re not looking at selling Kentz. We’re focused on growing ourselves as a standalone entity.”

The stock rose 24 percent on Aug. 19, valuing Kentz at 670 million pounds ($1 billion) after the board snubbed a proposed offer from Amec Plc of as much as 580 pence a share. M+W Group also said it filed an indicative bid in July that was rejected. Brown today declined to comment on a Sunday Times report that unidentified investors would be open to a bid at 650 pence.

Kentz said its order backlog has grown 12 percent to $2.8 billion since June 2012. The Tipperary, Ireland-based company submitted a record $4.5 billion of bids in the second quarter, it said in half-yearly results published today in London.

Kentz raised its interim dividend 20 percent to 6.6 cents a share as earnings per share gained 23 percent to 33.25 cents. The stock slipped 0.4 percent to 565 pence in London.

“We’ve delivered what we said operationally and we have a great platform to grow from,” Brown said.

To contact the reporter on this story: Brian Swint in London at

To contact the editor responsible for this story: Will Kennedy at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.