IN BRIEF: Ricardo completes acquisition of 85% stake in E3 Advisory

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Ricardo PLC - Shoreham-by-Sea strategic environmental and engineering consulting company - Completes its acquisition of an 85% stake in E3 Advisory for a total of A$101.4 million, or £50.7 million. It expects to buy the remaining 15% interest in three years’ time.

Chief Executive Officer Graham Ritchie says: ‘E3 Advisory forms part of the next chapter for Ricardo and plays a pivotal role in transforming our business to create a leading position in environmental and energy solutions. E3 Advisory brings value-added strategic advisory capability to the group’s integrated global solutions offering, whilst also accelerating our commercial and operational scale in energy, water and transport in Australia, and more widely across the APAC region.’

Current stock price: 436.04 pence

12-month-change: down 11%

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