Balfour Beatty has sold its stakes in two assets from its infrastructure investments portfolio for nearly £26 million.
The Group has offloaded its 49.5 per cent interest in UBB Waste (Gloucester) Holdings Limited, the owner of the energy-from-waste facility at Javelin Park near Gloucester (UK), to Urbaser Investment Limited.
While in the US, Balfour has sold its 50 per cent stake in the Moretti multifamily housing community in Birmingham, Alabama, to Henssler Capital.
The Group said the £25.8 million proceeds are above its valuation as of 30 June 2023 and are consistent with Balfour’s strategy to optimise value through the disposal of operational assets, while continuing to invest in new asset opportunities.
Balfour added it expects no further infrastructure investments disposals in 2023.
Was this interesting? Try Decision on £1.3bn Trans-Pennine project pushed back
If you have a tip or story idea that fits with our publication, please contact the head of news email@example.com
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.