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Tag Archives: Interserve

Interserve completes sale of the Group

International support services, construction and equipment services group, Interserve, has announced the appointment of Alan Hudson and Hunter Kelly of Ernst & Young LLP as administrators to Plc and the successful completion of the sale of the Group, other than ...

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Interserve: faces crunch vote on rescue plan

Interserve faces a crunch vote on Friday over its proposed rescue plan. If shareholders fail to back the debt-for-equity deal, the firm could go into administration by the weekend. The firm employs 65,000 staff worldwide, 45,000 in the UK, cleaning schools and ...

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Interserve issues statement regarding deleveraging plan

The Interserve Board has confirmed it has been in discussions with majority shareholder, Coltrane Asset Management, and its lenders, which have sought to establish the basis on which Coltrane would support the company’s restructuring proposal. On Monday (4 March) Interserve announced ...

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Interserve rejects Coltrane Asset Management’s rescue proposal

The Interserve Board has rejected the proposal received on Monday (4 March) from its largest shareholder, Coltrane Asset Management, who are opposed to the Company’s deleveraging plan, following a review with its advisors. The Coltrane Proposal requires the consent of ...

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Interserve results better than expected as deleveraging plan gets underway

Services provider Interserve published a slightly strong set of full year results than expected, for although revenues declined to 10.7 per cent to £2,904.0 million, this compares favourably to 2017 which saw a loss of £244 million; while its operating ...

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Interserve announces deleveraging plan details

Following its 6 February 2019 announcement, the Interserve Board has  provided details of its proposed Deleveraging Plan, which it states has been agreed with all of the company’s lenders, bonding providers and the Pension Trustee. The key elements of the ...

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Interserve rescue plan to be set out in full this week

Interserve has announced it will publish shareholder documents this week which will include the notice of a general meeting of Interserve at which shareholder approval of the Deleveraging Plan will be sought. The documents will also set out the full terms of ...

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Sutherland steps down at Interserve

Dougie Sutherland, Managing Director of Interserve’s development division has stepped down from the Board of Directors with immediate effect, a week after a major shareholder of the company called for the removal of eight board members, which included Sutherland. Sutherland ...

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Interserve agrees rescue plan with its lenders

Interserve has announced in a statement that key commercial terms of its Deleveraging Plan have been agreed in principle with all of the company’s lenders, bonding providers and the Pension Trustee. The Board believes the Deleveraging Plan which is expected to ...

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Prime acquires full shares in Interserve Prime

Health and care property firm, Prime, has completed a deal to purchase full shares in joint venture company Interserve Prime. Moving forward, the business, which is currently involved in three strategic estates partnerships with NHS Foundation Trust at University Hospital ...

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