NEWS: Kvaerner bid spawns lobby work

Both sides of the pounds 200 million takeover bid by shipbuilding giant Kvaerner, for the construction group Amec, have hired heavyweight political advisers, it emerged this week.

Both sides of the pounds 200 million takeover bid by shipbuilding giant

Kvaerner, for the construction group Amec, have hired heavyweight

political advisers, it emerged this week.



Norwegian shipbuilder and engineer Kvaerner is understood to have

recruited lobbying firm GJW.



And a source close to Manchester-based construction group Amec revealed

that it is using Sir Tim Bell’s Lowe Bell Communications for ‘strategic

advice’.



The two advisers have faced each other on a number of deals in the

utilities sector, including Trafalgar House’s bid for Northern

Electricity, Southern Electricity International’s bid for SWEB and the

battle for control of Norweb between North West Water and Texas Energy

Partners. Each one is estimated to have earned the firms between pounds

100,000 and pounds 125,000 each, plus the same again in success fees.



On the financial PR front Kvaerner and Amec are sticking with their

long-standing advisers.



Amec, whose defence strategy was battered on Monday when a pounds 100

million bid for Alfred McAlpine was rejected, is being advised by

Financial Dynamics, which it has used for the past 10 years.



Kvaerner is using Keith McDowall Associates, which it has worked with

since 1989.



Speculation over Kvaerner’s Amec bid began last week when it snapped up

10 per cent of Amec’s shares.



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