Balfour Beatty PLC BALFOUR BEATTY 50% INTEREST SALE IN FIFE HOSPITAL (1683B)
19 September 2018 - 4:00PM
UK Regulatory
TIDMBBY
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 GBP43 million, which is in
excess of the Directors' valuation as at 30th June 2018. The
expected profit on disposal on this transaction is GBP22
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
angus.barry@balfourbeatty.com
Media enquiries:
Louise McCulloch
Tel. +44 (0)20 7216 6846
louise.mcculloch@balfourbeatty.com
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.
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contact rns@lseg.com or visit www.rns.com.
END
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