BALFOUR Beatty has announced the sale of its 50% stake in Fife Hospital to Semperian PPP Investment Partners for £43 million.
The firm said this figure is “in excess” of the directors’ valuation as at 30th June this year. The expected profit on disposal on the transaction is £22 million.
Balfour Beatty said 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,” Balfour Beatty said.