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Sat October 19 2019

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Balfour Beatty sells Singapore PPP

2 Oct Balfour Beatty has completed the sale of its stake in the ITE College West public-private partnership (PPP) project in Singapore.

Ion Appuhamy, managing director of Balfour Beatty Investments, said: "ITE College West was the first social infrastructure PPP Project of its kind in Singapore. Having built the project and successfully operated it for nine years the time is now right for us to realise our investment.”

Balfour Beatty had a 50% interest in the project. Its co-shareholder, Jardine Pacific, also sold its 50% stake as part of the same transaction, with Balfour Beatty leading the sale on behalf of both.

The sale aligns with Balfour Beatty’s strategy of optimising value through the sale of mature investments and investing in new opportunities. 

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