AssetCo fired up for shares sale

By Daily Mail Reporter
Updated:

 

The outsourcer that owns London's fire engines is turning to investors to raise £8m as its funding problems continue.

AssetCo, originally a subsidiary of British Gas, needs the cash from the share sale to address short-term funding problems.

Last week it said it had been forced to call off takeover talks with a potential bidder to concentrate on sorting out its finances.

The Fire Brigades Union last night said it was concerned about the performance of the company, which owns and maintains fire engines and equipment for London and Lincolnshire fire services.

Shares closed up 1p at 25p.

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