28th Apr 2015 09:43
LONDON (Alliance News) - FTSE 250-listed construction and support services company Balfour Beatty PLC on Tuesday said it has struck a deal to sell its 50% stake in the Royal Infirmary of Edinburgh public-private partnership project for GBP72 million.
The investment is being acquired by infastructure fund manager Equitix, with the consideration to be paid in cash on completion of the deal, which is set to take place in mid-June.
"This transaction again underlines the quality of the investments portfolio and its ability to generate value for shareholders. It also demonstrates our commitment to maintaining a strong balance sheet through self-help as we deliver the first phase of the Build to Last transformation programme," said Leo Quinn, Balfour's chief executive.
Shares in Balfour were down 1.4% to 245.30 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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