December 13, 2017 / 7:49 AM / a year ago

Debt-laden Carillion secures deal to sell part of UK healthcare unit

Dec 13 (Reuters) - Troubled British construction firm Carillion said on Wednesday it had reached a deal to sell a large part of its UK healthcare facilities management business to outsourcing group Serco for about 47.7 million pounds ($63.55 million).

Carillion said in September said it intended to exit the business and announced it had a preliminary agreement for selling a large part of it to Serco for 50.1 million pounds.

Carillion said net disposal proceeds of 41.4 million pounds would be used to prepay of part of a 140 million pound credit.

The firm, which has said it was heading towards a breach of debt covenants and needed fresh capital, had said it would exit its UK healthcare and Canadian businesses to help raise more than 300 million pounds by the end of 2018 from disposals.

Lazard & Co is acting as lead financial adviser and sponsor to Carillion for the healthcare unit sale.

$1 = 0.7506 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Edmund Blair

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