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







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