Balfour Beatty’s interests in Aberdeen Western Peripheral Route (33%), Woodland View Hospital in Ayrshire (100%) and North West Fire & Rescue (100%) at BBGI Global Infrastructure.
The price is not disclosed at this point, but it is above the valuation of Balfour Beatty in its year-end accounts last December, the company said.
Balfour Beatty said the sale of assets from its infrastructure investment portfolio was in line with its strategy of maximizing value and recycling yield by investing in new equity opportunities.
The Aberdeen West Ring Road encompasses the design, construction, financing, operation and maintenance of 12 km of the existing and upgraded road as well as 47 km of new two-lane carriageway. The last section of the road was opened in 2019 at a cost of £ 1.2bn, more than double the original budget
Woodland View Hospital involves the design, construction, financing and maintenance of a 206 bed acute psychiatric facility and community hospital in Irvine, North Ayrshire, Scotland. The hospital became operational in 2016.
The North West Fire & Rescue project involves the design, construction, financing and maintenance of 16 new community fire stations in the North West of England. The facilities became fully operational in 2013.
Balfour Beatty remains the maintenance contractor on these projects, but is no longer the owner.
Last month, Balfour Beatty announced the sale of its 70% stake in British Columbia
Children’s and Women’s Hospital Redevelopment Project Phase 2 – Teck Acute Care Center, Vancouver, Canada. The proceeds of the divestiture of £ 20, also above the directors’ assessment, represented a pre-tax profit on the divestiture of £ 7million. This was the first sale of PFI assets from Balfour Beatty since 2019.