Balfour sells another stake in M25 for £42m
Posted On February 20, 2018
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Balfour Beatty has sold another stake in Connect Plus which operates the M25 orbital motorway.
The latest deal sees Balfour sell an additional 5% stake for £42m generating a profit of £22m.
The cash will be used to pay down the contractor’s borrowings.
Balfour has now sold 25% of its original 40% holding for a total cash consideration of £207m.
The Group continues to own a 15 percent stake in Connect Plus.
The latest sale is to funds managed by Equitix Investment Management Limited.
Leo Quinn, Group Chief Executive, said: “This transaction again demonstrates the ongoing attractiveness of our infrastructure assets and is in line with our declared intent to maximise value for shareholders.”
The cash will be used to pay down the contractor’s borrowings.
Balfour has now sold 25% of its original 40% holding for a total cash consideration of £207m.
The Group continues to own a 15 percent stake in Connect Plus.
The latest sale is to funds managed by Equitix Investment Management Limited.
Leo Quinn, Group Chief Executive, said: “This transaction again demonstrates the ongoing attractiveness of our infrastructure assets and is in line with our declared intent to maximise value for shareholders.”
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