Management buys out Ceezed for £500k

Contractor Costain has sold its Zimbabwean building business to a management buy-out for £500,000 in cash.

The contractor said its interests in the Zimbabwe contracting business, Ceezed Construction, formerly known as Costain Zimbabwe, have been sold “to a consortium headed by Ceezed executive chairman, Mr T.P. Chimuriwo.”

Costain said it will have no future involvement in Ceezed.