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RPS acquires Paras for £6.4m

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Date: Friday 10 Oct 2008

LONDON (ShareCast) - Energy and environmental consultancy group RPS has acquired Paras, a company that provides strategy consultancy advice to oil and gas companies such as BP and BG Group, for a maximum of £6.4m.

RPS paid an initial £4.7m for London-based Paras, comprising £3.5m in cash and the rest in RPS shares. The remaining payments will be made over a three-year period depending on certain conditions being met.

“RPS remains committed to expanding our fast growing international Energy business with further acquisitions,” said Alan Hearne, chief executive of RPS.

“The addition of Paras significantly enhances the high value advisory skills we have developed over the last few years and will assist our energy business in consolidating its market leading position. The group's balance sheet remains strong and further acquisitions are under negotiation.”

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