Balfour Beatty Plc (LON:BBY), the international infrastructure group, today announced the completion of the sale of its 50% stake in Fife Hospital for a cash consideration of £43 million, which is in excess of the Directors’ valuation as at 30th June 2018. The expected profit on disposal on this transaction is £22 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.