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Balfour Beatty sells stake in two infrastructure assets

senior-journalist

Balfour Beatty has sold its stakes in two assets from its infrastructure investments portfolio for nearly £26 million.   

Logo credit: Balfour Beatty.

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.  

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