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Balfour Beatty to dispose of public partnership asset for 61.5 million pounds

Published 02/10/2014, 07:33
Updated 02/10/2014, 07:40
© Reuters Raindrops are seen on a sign at a Balfour Beatty construction site in central London
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LONDON (Reuters) - British infrastructure firm Balfour Beatty (L:BALF) said on Thursday it would dispose of its 50 percent stake in a public-private partnership for 61.5 million pounds.

The company's board said the amount it had received for its partnership of a West Yorkshire hospital had "exceeded" its expectations and had generated a gain on disposal of 42.2 million pounds.

© Reuters. Raindrops are seen on a sign at a Balfour Beatty construction site in central London

Balfour, which rejected the merger advances of its UK rival Carillion (L:CLLN) for the third time in August, issued its third profit warning on Monday, blaming increased losses on the mismanagement of a number of UK contracts.

(Reporting by Li-mei Hoang; Editing by David Holmes)

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