StockMarketWire.com - Engineering group Ricardo said it had agreed to acquire Melbourne-based environment, planning and infrastructure advisory consultancy PLC Consulting for A$9.6m (£5.4m).

The consideration would be paid in cash, with part paid in instalments over three years, subject to the achievement of agreed financial targets and the retention of key management.

The acquisition was expected to be completed on 31 July 2019.

'I am passionate about the work our energy and environment experts deliver in helping to mitigate the worsening impacts of climate change, the reduction of waste and the conservation of the world's scarce resources,' chief executive Dave Shemmans said.

'This exciting acquisition will also help Ricardo to continue to grow our environmental services in Australia.'



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