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Balfour Beatty PLC — M&A Activity 2018
Sep 19, 2018
4595_rns_2018-09-19_b8f9e32b-37da-446a-a894-45032d87201b.html
M&A Activity
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National Storage Mechanism | Additional information
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RNS Number : 1683B
Balfour Beatty PLC
19 September 2018
News Release
19 September 2018
BALFOUR BEATTY ANNOUNCES SALE OF 50% INTEREST IN FIFE HOSPITAL
Balfour Beatty, the international infrastructure group, today announces the completion of the sale of its 50% stake in Fife Hospital for a cash consideration of £43 million, which is in excess of the Directors' valuation as at 30th June 2018. The expected profit on disposal on this transaction is £22 million.
The 50% stake in Fife Hospital has been acquired by Semperian PPP Investment Partners. The consideration has been paid in cash in full and will be used to pay down borrowings in 2018.
The transaction is consistent with the Group's stated strategy of optimising value through the disposal of operational assets, whilst also continuing to invest in new opportunities.
ENDS
Analyst/investor 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 28,000 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 & Ireland, 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
END
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