9th Nov 2023 11:43
Balfour Beatty PLC - London-based infrastructure construction firm - Completes two disposals from its Infrastructure Investments portfolio for a combined gain of GBP25.8 million. Sells its 49.5% interest in UBB Waste (Gloucester) Holdings Ltd, the owner of the energy from waste facility at Javelin Park near Gloucester, to Urbaser Investment Ltd. Also sells its 50% interest in the Moretti multifamily housing community in Birmingham, Alabama to Henssler Capital, LLC.
Explains that both sales are in line with prior expectations for annual gains on disposal of GBP15 million to GBP30 million. The proceeds from each are in excess of directors' valuation as of June 30.
Balfour Beatty expects no further infrastructure investments disposals this year.
Current stock price: 311.80 pence
12-month change: up 3.2%
By Holly Beveridge, Alliance News reporter
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