CNP - General - Share Ownership Of CNP Acquired By LandAmerica

Date: 07 Sep 2007

CNP, one of the UK's leading specialist building and project consultants, has today announced that all shares in the CNP business have been acquired by LandAmerica, a major US property and financial group with annual revenues of around $4 billion.

LandAmerica will become CNP's parent company, however the CNP business in Europe will continue to be run by the existing management team headed by Andrew Chisholm and David Nurser. At the same time CNP will be LandAmerica's representative business, and its brand, throughout the UK and Ireland. CNP will become a key part of LandAmerica Assessment Corporation (LAC), a subsidiary of LandAmerica.

Andrew Chisholm, Managing Director of CNP, said: "We have thought very carefully before entering into these new arrangements, and we have concluded that they offer a fantastic opportunity for our business, for our clients, and for our staff. These new arrangements enable us to maintain the unique attributes of the CNP service as the existing management team and staff will continue in place. At the same time the backing of LandAmerica will add significant further strength and resources to help fuel our drive to deliver a range of services around the evolving needs of our clients that is second to none in the industry."

Charles Victor, Executive Vice President - LandAmerica Assessment Corporation, said: "The time was right to increase capital investment in our European operations. To that end, we sought out CNP, a recognised leader in the UK commercial building and project consultancy industry. This acquisition represents a significant expansion of LandAmerica Assessment Corporation's talent, and service offerings throughout Europe, and we are excited to welcome CNP to the LandAmerica team."

Andrew Chisholm, Managing Director of CNP

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