BusinessBusiness RecoveryE&Y calls in investment bank to value Metronet

E&Y calls in investment bank to value Metronet

NM Rothschild to do valuation of the London Underground maintenance company

Investment bank NM Rothschild has
been brought in by Metronet
administrator Ernst & Young to do a valuation of the London Underground
maintenance company that collapsed after its costs ran £2bn over budget.

Administrator Alan Bloom is currently trying to get an auction going for the
business, which is owned by WS
Atkins
, Balfour Beatty, Bombardier, EDF Energy and Thames Water.

According to The Times, only Transport for London, the parent of
London Underground, has lodged a formal expression of interest in Metronet’s two
operating companies.

Further reading:

Metronet workers turn on administrators

Metronet revelations due this week

Balfour Beatty suffers £103m Metronet write-down

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor