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Monday, 26 April 2010 00:00

Balfour Beatty raises £21 million from PPP sales

Balfour Beatty, the international infrastructure group, has announced this morning that it has completed the sale of two of its UK PPP concessions.

The company has sold its entire 50% interest in Aberdeen Environmental Services (Holdings) Limited to the other shareholder of AES - Kelda Non-Reg Holdco Limited, an affiliate of Kelda Water Services Limited. Balfour Beatty has also disposed of a 23.9% interest it had in Consort Healthcare (ERI) Holdings Limited to ERI Holdings Limited - the other shareholder of ERI and wholly-owned by Barclays Integrated Infrastructure Fund.

Kelda and ERI Holdings Limited purchased the interests in AES and ERI respectively by exercising their rights of pre-emption which were triggered by the agreement between Balfour Beatty and AMP Capital Investors Limited dated 4 March 2010 to sell the 50% interest in AES and the 23.9% interest in ERI for an aggregate consideration of £24.3 million.

The disposals will generate an aggregated profit of c.£21 million.

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