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News » UK » Balfour Beatty makes £85m profit on M25 stake disposal » published 2 Jan 2018

Balfour Beatty makes £85m profit on M25 stake disposal

Balfour Beatty has reduced its shareholding of Connect Plus, the company which operates the M25 motorway, from 40% to 20%.

Connect Plus has a long-term PFI contract to look after the M25 for Highways England Above: Connect Plus has a long-term PFI contract to look after the M25 for Highways England

On 21st December Balfour Beatty agreed the sale of a 12.5% stake in Connect Plus to funds managed by Dalmore Capital for a cash consideration of £103m.

The following week, on 29th December, it announced the sale of an additional 7.5% stake to Equitix for £62m.

The first transaction netted the contractor a £53m profit; the second made it £32m. The proceeds will be used to pay down borrowings in 2018, the company said, strengthening the balance sheet.

 

MPU

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This article was published on 2 Jan 2018 (last updated on 20 Feb 2018).

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