2nd Dec 2015 12:52
LONDON (Alliance News) - Construction and support services company Balfour Beatty PLC on Wednesday said it has sold its 33.3% stake in the Greater Gabbard Offshore Transmission project for GBP25.5 million.
The stake has been sold to funds managed by Equitix, an infrastructure investor, and the consideration will be paid in cash on completion of the transaction and retained by Balfour.
It said the proceeds from the sale were in line with its internal valuation.
Balfour Beatty shares were up 1.9% to 267.4 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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