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Balfour Beatty PLC — M&A Activity 2018
Feb 23, 2018
4595_rns_2018-02-23_35baf234-687b-4cd6-b8c5-5f5896ca4dc2.html
M&A Activity
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RNS Number : 8271F
Balfour Beatty PLC
23 February 2018
News Release
23 February 2018
BALFOUR BEATTY COMPLETES THIRD PARTIAL SALE OF M25 INFRASTRUCTURE ASSET
Further to the announcement on 19 February 2018, Balfour Beatty, the international infrastructure group, today announces that it has completed the agreement with funds managed by Equitix Investment Management Limited (Equitix) to sell a 5 percent stake in Connect Plus, in line with its earlier announcement.
ENDS
Investor and Analyst enquiries:
Angus Barry
Tel. +44 (0)20 7216 6824
Media enquiries:
Louise McCulloch
Tel. +44 (0)20 7216 6846
Notes to editors:
· Balfour Beatty (www.balfourbeatty.com) is a leading international infrastructure group. With 30,000 employees, we provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. We finance, develop, build and maintain complex infrastructure such as transportation, power and utility systems, social and commercial buildings.
· Our main geographies are the UK, US and the Far East. Over the last 100 years we have created iconic buildings and infrastructure all over the world including the London Olympics' Aquatic Centre, Hong Kong's first Zero Carbon building, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.
· The shareholders of Connect Plus following the sale of 12.5 percent to funds managed by Dalmore Capital Limited and 12.5 percent to funds managed by Equitix will be:
o 40% - BBDE Orbital Holdings LLP (comprising Balfour Beatty Infrastructure Investments Limited (BBIIL) 37.5%, funds managed by Dalmore 31.25%, funds managed by Equitix 31.25%)
o 40% - EDGE Orbital Holdings Limited
o 10% - EDGE Orbital Holdings 2 Limited
This information is provided by RNS
The company news service from the London Stock Exchange
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