Serco Group has successfully renegotiated the purchase of Carillion's UK health facilities management business.

In December, it was announced a £50 million deal had been signed for Serco to acquire a portfolio of selected UK health facilities management contracts from the now-defunct industry services firm.

However, following the company's collapse last month, Serco has managed to renegotiate a new deal with administrators to purchase the business for £29.7m.

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In a statement, Serco said: "If all the contracts are transferred to Serco under the revised BPA process, the total consideration payable would be £29.7m.

"The potential revenues and profitability of the contracts being transferred under the BPA are substantially unchanged from those indicated in our announcement of the 13 December 2017; the change in consideration reflects Serco's re-evaluation of potential liabilities, indemnities, warranties and the additional working capital investment required as a result of Carillion's liquidation.”

(LM)