Balfour Beatty sells portion of hospital PPP

Balfour Beatty has sold its 50% interest in the Royal Hospital of Edinburgh project.

 

The infrastructure company has traded its stake to fund manager Equitix for £72m.

 

The consideration is to be paid in cash in full on completion of the deal, expected to occur by mid-June, and will be reserved within the business. 

 

Leo Quinn, Balfour Beatty Group Chief Executive, said: “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.”