The company has sold its 50% interest in the University Hospital of North Durham PPP project and its 100% interest in the Knowsley Building Schools for the Future (BSF) project.
Dalmore Capital is paying £97m for them, generating total gains on disposal of £51m for Balfour Beatty. This is £44m more than the Balfour Beatty board had valued them at.
Balfour Beatty said that the disposals were in line with its strategy to recycle equity invested in its portfolio. The proceeds will be reinvested elsewhere.
The sale of Knowsley for £42m is unconditional and is expected to complete shortly. The sale of Durham for £55m remains subject to the right of the co-shareholder to exercise its rights of pre-emption at the proposed sale price, with completion expected to occur by mid-July.