In January 2000 when we started looking at the sale of Proudfoot Japan it was worth more than the market capitalisation of the group as a whole. The business was very successful with a consistent record of profitability and growth. We took the view that the disposal would allow us to raise substantial funds to invest in the crucial European and North American markets and by structuring the deal as a management buy out we could retain a close operational alliance.
FAQ type
Acquisitions and disposals