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MARKET REPORT - LIBERATA ENJOYS BIG CASH BOOST

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Global investment firm General Atlantic Partners is to acquire half the shares in Liberata, as well as investing a ...
Global investment firm General Atlantic Partners is to acquire half the shares in Liberata, as well as investing a further£60m.

A statement from Liberata, the new name for council contractor CSL, said: 'The primary investment will be used to enhance the company's balance sheet and to help fund further organic expansion and growth through acquisition.'

Swindon BC recently transferred its benefits and revenues contract from struggling private finance initiative firm Atkins to Liberata, which had been runner-up for the deal when it was first tendered.

Redcar and Cleveland BC looks set to follow suit after scrapping a£220m strategic partnership with troubled support services company Amey and asking for further bids.

Liberata is poised to take over the contract after the council stripped Amey of its preferred bidder status. An announcement is expected on 12 December following further submissions by both Amey and Liberata.
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