WSP-bound consultant completes sale of division to Currie & Brown after arbiter settles row over sale price
Sweett has been ordered to pay Currie & Brown £1.3m after the pair rowed over how much the latter should stump up to buy its Asia Pacific business.
Currie & Brown agreed to pay £9.3m for the divison last October, but the pair then got into a dispute over the impact of currency exchange rate changes on the price.
Currie & Brown wanted a £1.7m reduction on its deal while Sweett - which last month was bought for £24m by WSP PB - said the price should be cut by just £500,000.
The case went to arbitration and in its decision, arbiter, accountancy firm Grant Thornton, said Sweett should pay Currie & Brown £1.3m. In a statement Sweett said the matter was now concluded.
The WSP PB deal for Sweett is expected to be formally completed in the first week of next month.