£43m deal sees Balfour Beatty sell Fife interest

Infrastructure group Balfour Beatty has offloaded a 50 per cent stake in a Fife hospital as part of its ongoing disposal strategy.

The business, whose projects include the delayed Aberdeen bypass, has sold off its interest in Victoria Hospital for a cash consideration of £43 million, exceeding the directors’ valuation as at 30 June.

The expected profit regarding the deal is £22m.

The stake has been acquired by Semperian PPP Investment Partners, which was launched in October 2007 to invest in UK social infrastructure.

Balfour Beatty added that the consideration has been paid in cash in full and will be used to pay down borrowings in 2018.