International construction and infrastructure group Balfour Beatty (BBY) has cashed in a small chunk of its investment portfolio netting it a £7 million gain.
Private equity firm Equitix has paid £87 million for a collection of offshore transmission assets, street lighting projects, a road concession and a biomass plant.
| Price: 715.5p +0.2% | P/E: 20.4x |
| Market Cap: £3.5bn | Yield: 1.8% |
As well as its bread-and-butter infrastructure business, Balfour Beatty owns a speculative portfolio of investments which it can tap into now and then.
The sale of a bunch of projects at a small profit won’t move the needle much given the size of the group, but it suggests private equity is biting which is good for asset values.
Read the press release here: https://www.balfourbeatty.com/investors/
Read related news: https://sharesify.com/balfour-beatty-keeps-guidance-announces-buyback/
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