Contractor sells PPP stakes in hospital and schools projects
Balfour Beatty has sold PPP stakes in two UK projects, cashing in on £97m.
The contractor has sold its 50% interest in the University Hospital of North Durham PPP project and its 100% interest in the Knowsley Building Schools for the Future project,
Balfour Beatty said the proceeds would be invested in new and existing projects.
Balfour Beatty executive chairman Steve Marshall said: “These disposals are in line with our strategy to generate income from our Infrastructure Investments business through disposals, thereby releasing cash for future investments and delivering value for our shareholders.
“The transactions demonstrate the quality and liquidity of our portfolio, and show again a substantial premium to the Directors’ valuation.”
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