Anybody trading in these shares? I just bought some @ 204.72

I wonder if its worth considering the prefs?

BALFOUR BEATTY ANNOUNCES DISPOSAL OF PPP ASSET AND THREE NEW PROJECTS

Balfour Beatty, the international infrastructure group, announces the disposal of its 50% interest in the Pinderfields and Pontefract Hospital PPP project ("Pinderfields"), in West Yorkshire, UK. In addition, Balfour Beatty has reached financial close on a multi-family housing project in the US and been appointed preferred bidder for two student accommodation projects in the US and Australia.

Pinderfields is being acquired by the current co-shareholder, a subsidiary of HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners. The consideration of £61.5 million exceeded management's expectations, generating a gain on disposal of £42.2 million. The proceeds exceed the revised Directors' Valuation by £13.5 million, representing an uplift of 28%.

In August 2014 Balfour Beatty published a review of the Directors' Valuation of the PPP portfolio, which resulted in the UK portfolio valuation increasing by 63% to £801 million, and the total portfolio increasing in value by 46% to £1,051 million, as at June 2014.

As part of Balfour Beatty's strategy to recycle equity invested in its portfolio, the Group also announces that it has reached financial close on Carmendy Square, a multi-family housing community in Florida, USA, and has also been appointed preferred bidder on two new student accommodation projects, one for The University of Texas at Dallas and one for University of Wollongong in Australia. Balfour Beatty expects to invest approximately £20 million of equity in these projects over the next three years.

Carmendy Square is Balfour Beatty Investment's first investment into amulti-family housing project in the US. The Dallas project is the third student accommodation success in the US in 2014, whilst the Wollongong project is its first project in Australia, leveraging market expertise from the UK and US.

Ian Rylatt, CEO of Balfour Beatty Investments, said: "This disposal supports the substantial increase in the Directors' Valuation of the PPP portfolio, whilst also demonstrating that the valuation maintains a level of prudence. We continue to see a strong pipeline of opportunities and therefore, in line with our strategy of recycling equity, the proceeds will be invested in new projects as we continue to diversify our business."

ENDS


I hold HICL

Flogging off the crown jewels to prop up the rest of the company. This is a disaster company.

Still might be interesting to CLLN but at much reduced terms than originally proposed. CLLN must be breathing a sigh of relief having failed in it's earlier merger proposal.

Any views on post 311?

I assume they are 'Cumulative preferred'?
I've never tried to trade preference shares, so would have to do some research. They come without voting rights, but if that were the only downside, why don't more people invest in them?

I wasn't thinking of trading them but holding to redemption.

They were available at less than 114p on Monday.

Next XD date is 19th November.

The yield to redemption allowing for the capital loss @100p redemption value is about 6.05% @115p - I'm tempted.

Are dealing costs the same as ORD stock?

Yes - I hold a few prefs.

Ex dividend this Thursday 9th 5.6p.

Prefs getting hammered this morning.

Finally bought a few prefs here @101.75p

Directorate Change

Balfour Beatty announces Leo Quinn as new Chief Executive Officer

Balfour Beatty, the leading international infrastructure group, is pleased to announce the appointment of Leo Quinn as its new Chief Executive Officer (CEO). Mr Quinn will take up his new position and join the Board on 1 January 2015.

Mr Quinn joins Balfour Beatty after five years as Group Chief Executive of QinetiQ, which he has reshaped into a strong commercial competitor providing technology solutions in defence, security and aerospace. From 2004-2008 Mr Quinn created substantial value as CEO of De La Rue, the largest non-government printer of banknotes, and prior to that led a number of international business transformations as Global President of Honeywell Building Controls and COO of Production Management, the largest division of Invensys PLC.

Contract Win

BALFOUR BEATTY CHOSEN FOR US $533 MILLION PROJECT TO CONSTRUCT MAJOR NEW HOSPITAL AND TRANSFORM TEXAS MEDICAL CAMPUS

Balfour Beatty plc announces today that it has signed a US$533 million contract (£329 million) to renovate and expand the Texas Medical Center campus in Houston, Texas, USA.

This complex project for the Memorial Hermann Healthcare System (MHHS) includes building a 17-storey hospital, implementing a building control system for the entire campus and ensuring all hospital services function fully throughout the four year construction timeframe, which starts imminently.

The new Hermann Pavilion 2 hospital will provide the Texas Medical Center with 24 additional operating theatres, further emergency rooms and intensive care wards, 160 new patient beds and six floors to further expand both wards and operating facilities. Connecting all building controls and fire alarm systems onto one platform for the entire campus will improve MHHS's overall control of systems and deliver significant energy consumption savings.

During its 27 year long relationship with MHHS, Balfour Beatty Construction has delivered more than 225 improvement projects.

Mark Layman, CEO of Balfour Beatty's US construction business, said: "This latest programme is a response to increasing healthcare needs as the population of the Houston area grows. A project of this complexity requires state-of-the-art construction methodology to ensure the ongoing health services are not disrupted. We will use the latest construction techniques, pre-fabricate off-site as much as possible and use digital technology to deliver this project efficiently."

Ends

StockMarketWire.com
Balfour Beatty has agreed to sell parts of its German rail business to Rhomberg Sersa Rail Group of Austria.

Balfour Beatty says the disposal continues its stated intention to divest all of its mainland European rail businesses. The transaction comprises the German track and plant and Austrian businesses. The businesses have been sold for gross proceeds of £6m, but net cash consideration will be approximately zero once the cash transferring with the business is taken into account.

Completion is expected in the first quarter of 2015 and is conditional on competition clearance.

The disposal group generated approximately £80m of revenue in 2013 with reported losses before tax, within discontinued operations, of £8m. Approximately 600 employees will transfer across with the business. Gross assets at 27 June were £36m. The disposal will result in a discontinued non-underlying loss on disposal of approximately £25m

BALFOUR BEATTY Q3 TRADING UPDATE
Balfour Beatty, the international infrastructure group, announces its 2014 Q3 trading update, covering the period to 17 November 2014.

OVERALL TRADING
There has been no material change in trading since the last trading update on 29 September 2014.

The UK construction business continues to prioritise actions to address the issues highlighted in the September trading update. These include further overhead reductions and additional supply chain savings. The regional business continues to reduce both its exposure to smaller contracts and its number of delivery units. The independent review by KPMG of the contract portfolio within Construction Services UK is well under way, with the report expected by the end of 2014.

The remainder of the Construction Services division and the Group's other operating divisions, Support Services and Infrastructure Investments, continued to trade as expected.

In October we announced the appointment of Leo Quinn as our new Chief Executive Officer. He will take up his new position and join the Board on 1 January 2015. The processes to appoint a new non-executive Chairman and Chief Financial Officer are being actively progressed.

ORDER BOOK
At the end of the third quarter, the order book stood at £11.7 billion, flat on the half-year. The order book at the half year has been restated from the reported £13.0 billion to £11.7 billion from continuing operations, to take account of the Parsons Brinckerhoff disposal.

The Construction Services order book increased to £7.9 billion, driven largely by an increase in the US, predominantly due to foreign exchange movements, and by contracts in the UK announced in the period. This growth was offset by an expected reduction in the Support Services order book to £3.7 billion, as we continued to complete on long term contracts in both the Power and Water sectors.

DISPOSAL OF PARSONS BRINCKERHOFF
The disposal of Parsons Brinckerhoff was approved by shareholders on 28 October, with 93% of votes in favour. The disposal was completed on 31 October. The net cash consideration of US$1,242 million (£753 million) represented a multiple of 11 times underlying EBITDA for the year ended 31 December 2013 and was received on 31 October.

FINANCIAL POSITION
Average net debt for the nine months to the end of September was £477 million. We expect average net debt for the full year to be approximately £400 million after taking into account the benefit of the proceeds from the sale of Parsons Brinckerhoff.

BBY Balfour Beatty looks to have based after an update yesterday that at last didnt include any nasty points. WATCH to buy if positive tomorrow.

BBY Balfour Beatty looks to have formed a base on the chart. Last results last week had no nasties 190p then 220p aim SP targets on chart.

Looking good GF - I've been watching since the last fall - I did buy the prefs @101.75p



Canaccord Genuity Hold 170.00 - 185.00 Initiates/Starts

Beat me to it again Skinny. Yep so good to see nothing nast in the last RNS.

Could be a quick riser this with all those gaps.