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Japanese bank to keep Hyder consultancy


A JAPANESE INVESMENT bank is expected to hang on to Hyder's consultancy business after it takes over the company, Hyder Consulting managing director Tim Wade said this week.

Instead of selling the consultancy, the bank is expected to launch a major cost cutting drive within Hyder's water and electricity businesses.

Nomura announced a £2.60 per share bid on Tuesday, valuing the group at £402M. In 1998, Hyder shares were more than £10.

It plans to appoint former Stagecoach head Mike Kinski to run the business. He has a reputation for cost cutting.

Nomura 'is interested in things that grow and prosper', said Wade, and 'we would put ourselves in that category'.

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