Daily Management Review

Balfour To ‘Pay Down Borrowing’ By The Sale Proceeds Of Its 12.5% Stake In M25 Motorway


12/21/2017


Dalmore Capital Limited to acquire Connect Plus’ 12.5% stakes for “103 million pounds”.



On Thursday, 21 December 2017, Britain based Balfour Beatty revealed its consent on selling a 12.5% stake in “Connect Plus”, the latter being the “operator of the M25 motorway”. The said sale is being made to “fund management company Dalmore Capital Limited for 103 million pounds”.
 
Moreover, the fund manager specialising on British infrastructure bought the stakes under “Highways England consent” and the completion of the same was expected to take place by this year end, reported Balfour. The firm also added that the receipts from the sale proceeds will be used to “pay down borrowings” in the coming year of 2018.
 
While Reuters reported:
“The company said the board had edged up its expectations for 2017 pretax profit as a result of windfall from the disposal”.
 
 
 
References:
reuters.com







Science & Technology

Amazon’s Ring gets in a privacy scandal

Facebook Is Creating A Stablecoin For Its WhatsApp Users

IBM offers to use the first quantum computer

Passport Numbers Of 5 Million Customers Hacked: Concedes Marriott

China Lifts Approval Freeze On New Video Games Launch

Concentrated Solar Plant System To Dispatch Electricity To The Grid On Demand

Unique Underground Transportation Tunnel Revealed By Elon Musk

Toyota is trying to revive demand for Prius

Deloitte: Smart speakers will show record sales in 2019

China takes the lead in quantum cryptography

World Politics

World & Politics

Macedonia ignites political crisis in Greece

Brazil turns right

Merkel’s Pledge Of A United Germany in 2019

Murder Suspects Of Jamal Khashoggi Put On Trial By Saudi Arabia

Japan is trying to save its population with robots and migrants

Germany closes the last coal mine

US launches investigation against Airbus

European regions with the most polluted air