02:00 Fri 16 Dec 2016
Balfour Beatty PLC - Balfour Beatty street light PFI sale
News Release
BALFOUR BEATTY ANNOUNCES 80% SALE OF ITS INTERESTS IN FIVE STREET LIGHTING PFI PROJECTS
The sale is for a cash consideration of
The proceeds from the transaction are in excess of the Directors' valuation.
ENDS
Analyst/investor enquiries:
Tel. +44 (0)20 7216 6824
Angus.Barry@balfourbeatty.com
Media enquiries:
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Notes:
1. Description of the projects that are the subject of the disposal:
The portfolio comprises five Street Lighting PFI projects with local councils in
The projects achieved financial close between 2003 and 2011 and are all of 25 years duration. This includes an initial five year construction period where the existing street lighting infrastructure was replaced and upgraded. This work was undertaken by
2. Summary financial information relating to the projects as included in the Group's accounts for the year ended
|
Street Lighting PFI projects |
Gross Assets |
252.6 million |
Net Assets |
24.0 million |
Profit Before Tax |
4.2 million |
3.
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