Deals
Mitie Mulls Takeover Bid for Main Interserve Unit, Sky Reports
- Effort to save troubled Interserve ended Friday in insolvency
- Takeover would create one of U.K.’s largest private companies
The Interserve Plc logo sits on a hoarding at the construction site in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Outsourcing company Mitie Group is considering acquiring the largest unit of Interserve Plc, the troubled U.K. construction company that collapsed this week and had its assets taken over by lenders.
Mitie’s chief executive officer, Phil Bentley, is working on plans to offer Interserve’s owners, which include a consortium of banks and hedge funds, about 100 million pounds for its support services unit, Sky News reported Saturday. This unit carries out facilities management work for government and various private sector clients in the U.K. and Middle East, Sky reported.