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The vendor of Mercatoria requested that the engineer’s office, URS, provided due diligence services on 83 Karstadt department stores. Watts was commissioned to check plausibility of the due diligence reports and to report all findings to the client. This involved consideration of budget costings proposed for repair works, calculating Watts’ own, and also highlighting issues of concern relating to health and safety.
Watts’ brief was to check the due diligence reports issued on behalf of the vendor and to advise on any issues or concerns within the report. It was necessary to highlight additional findings along with budget costs, and to produce a proposal of compulsory measures and expected expenditure. It is likely that Watts will be instructed to proceed with procuring the works that have been found necessary in the report, once agreed between all parties including those providing the funding. |
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