News: Downer considers consulting arm sale

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Downer EDI Limited (ASX:DOW) says it is looking to offload its consulting division, CPG, to ''focus and streamline'' its business.



The engineering company says it is now reviewing CPG Asia, CPG Australia and CPG New Zealand and the potential divestment of these businesses.



Analysts have told Fairfax media that CPG could come with a price tag of around $150 million and that at least three parties are believed to have expressed interest in the sale.



Downer’s full 2011 year results are due in three week and the company has forecast a net profit of $169 million.



In the first half of its 2011 financial year Downer EDI posted a net loss of $103.8 million.