19th Sep 2018 08:56
LONDON (Alliance News) - Balfour Beatty PLC said Wednesday it will net a GBP22 million profit from the sale of a 50% stake in a hospital located in Fife, Scotland.
The company, which builds and maintains complex infrastructure such as transportation, power and utility systems, has sold its 50% stake in Fife Hospital for GBP43 million, which is in excess of the company's valuation of the asset at June 30 and in line with its strategy of optimising value through asset disposals.
The stake in Fife Hospital has been acquired by Semperian PPP Investment Partners. Balfour Beatty will use the cash proceeds from the sale to pay down borrowings.
Shares in the company were trading 0.7% higher at 288.40 pence each on Wednesday morning.
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