Balfour Beatty makes £85m profit on M25 stake disposal
January 02, 2018 – Balfour Beatty has reduced its shareholding of Connect Plus, the company which operates the M25 motorway, from 40% top 20%.
On 21st December Balfour Beatty agreed the sale of a 12.5% stake in Connect Plus to funds managed by Dalmore Capital for a cash consideration of £103m.
The following week, on 29th December, it announced the sale of an additional 7.5% stake to Equitix for £62m.
The first transaction netted the contractor a £53m profit; the second made it £32m. The proceeds will be used to pay down borrowings in 2018, the company said, strengthening the balance sheet.