Carillion has announced the sale of a majority shareholding in mixed use developer Ask Real Estate, and the disposal of its 50 per cent interest in the Ask Carillion Developments JV.
The sale to commercial and residential property developer Dukehill is contingent on the disposal of 100 Embankment.
Although the agreed price of £13.8 million is tiny in comparison to aggregate first-half losses of £1.15 billion reported by the group on Friday, Carillion's Interim Chief Executive Keith Cochrane signalled it was a step in the right direction.
'We are pleased to be able to announce further progress. Much remains to be done, and we are continuing to execute our plans to refocus the business, reduce cost and strengthen our balance sheet", he said.
