PracticeConsultingCammell Laird talks float on, says PwC

Cammell Laird talks float on, says PwC

Big Five firm PricewaterhouseCoopers, the receivers for shipbuilder Cammell Laird, has dismissed reports in the media suggesting talks for a buyer had broken down.

A spokesman confirmed to AccountancyAge.com that talks continued to find a buyer, but admitted that no announcement was ‘imminent’.

Reports in yesterday’s Times suggested that talks with Alchemy, the venture capital business, and A&P, the private ship repair company, had broken downed just as they were close to finalising a deal.

An article on FT.com followed a similar line, stating Alchemy had ended discussions with A&P after it refused to invest any of its own money in a proposed merged company to buy out Cammell Laird.

But the PwC spokesman said all reports were pure speculation at this stage, adding that details of prospective buyers would not be made known.

Troubles at Cammell Laird began in April this year, after a number of cancelled shipbuilding orders sank the company, forcing it to call in receivers. Up to 3,500 employees stand to lose their jobs if a buyer is not found.

Links

Receivers optimistic of Cammell sale

Shipbuilder Cammell calls in receivers

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