Costain sells Alcaidesa business for €15.2m
Infrastructure solutions group Costain has agreed to sell its Alcaidesa business, which owns and operates two golf courses in Cadiz, Spain, for €15.2m in cash.
Construction & Materials
11,144.86
16:29 10/01/25
-1.98%
-225.66
Costain Group
96.00p
16:30 10/01/25
-2.04%
-2.00p
FTSE All-Share
4,478.21
16:30 10/01/25
n/a
n/a
FTSE Small Cap
6,697.86
16:25 10/01/25
n/a
n/a
The company said on Wednesday that it would book a loss of £8.9m from the sale, which will be included in its 2019 financial statements as a one-off non-cash charge.
Costain also said it was looking for a potential buyer for its 624-berth marina concession.
"The disposal and the potential disposal of the marina concession is part of Costain's strategy to divest its non-core business assets in Spain," it said.
At 1030 GMT, the shares were down 1.4% at 19p.