Defence and aerospace engineer Babcock said it has sold its Frazer-Nash Consultancy to US peer KBR for £293m.
The UK-based division provides engineering and technology solutions across a broad range of national infrastructure, to operators and regulators from a network of nine UK and four Australian locations. The consultancy, which Babcock acquired in 2007, employs around 900 people.
The sale forms part of Babcock’s targeted disposal programme, which aims to generate at least £400m in the next year. Proceeds from this transaction will be used to reduce net debt.
