The move will safeguard the jobs of around 95 Carillion employees.

The deal marks a return to working on the M40 for Egis who worked on the the initial startup of the operations and maintenance contract on the motorway between 1997 and 2007.

Work will now be carried out through a newly created company called Egis Road Operation M40 Ltd.

Egis will now cover 23km of 2 x 3 lane motorway, with over 300 structures on a 30-year contract until January 2027.

Core services undertaken will include network management, safety inspections, cyclical and routine maintenance, accident and emergency response and winter maintenance.