On 21st December Balfour Beatty agreed the sale of a 12.5% stake in Connect Plus to funds managed by Dalmore Capital for a cash consideration of 拢103m.
The following week, on 29th December, it announced the sale of an additional 7.5% stake to Equitix for 拢62m.
The first transaction netted the contractor a 拢53m profit; the second made it 拢32m. The proceeds will be used to pay down borrowings in 2018, the company said, strengthening the balance sheet.
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