UK-based infrastructure services company Balfour Beatty Plc (BBY.L) said it completed the disposal for two PFI assets for combined proceeds of 58.5 million pounds, exceeding the Directors' valuation by 21.9 million pounds, as part of its strategy to reinvest in areas that align with its target geographies and market sectors.
The group sold its 50% interests in four PFI schools projects in Birmingham, Bassetlaw, Stoke and Rotherham to its co-shareholder, Innisfree, for combined proceeds of 42.5 million pounds, generating a sale gain of 24.4 million pounds.
Balfour Beatty said it also completed the sale of its 50% interest in the Tameside Hospital PFI to a subsidiary of HICL Infrastructure Company Limited, its co-shareholder, for 16.0 million pounds, generating a gain on disposal of 9.0 million pounds.
For comments and feedback: editorial@rttnews.com