Balfour Beatty sells 50% stake in Fife Hospital
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Balfour Beatty has announced the completion of the sale of its 50% stake in Fife Hospital for a cash consideration of £43 million.
The firm said this figure is “in excess” of the directors’ valuation as at 30th June this year.
The transaction is expected to make Balfour Beatty a profit of £22m, which 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,” Balfour Beatty said.
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