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Ricardo PLC - Shoreham-by-Sea strategic, environmental and engineering consulting company - Agrees to sell Ricardo Defense for £67.5 million to Proteus and Gladstone via GPD Acquisition Inc on a cash-free, debt-free basis. Reflecting the current strong financial performance of Ricardo Defense, the disposal is expected to be dilutive to the group’s earnings per share in the near term, partly offset by earnings contribution from E3 Advisory. Buys 85% of E3 Advisory for A$101.4 million, around £51.0 million. Expects to purchase the remaining 15% of E3 Advisory by January 2028. E3 Advisory advises both governments and private clients through the infrastructure project lifecycle, with particular expertise in transport, infrastructure, clean energy, water, and mining and resources. Proceeds from the sale of Ricardo Defense will fund the deal. Current share price: 405.50 pence 12-month change: down 17% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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