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Balfour Beatty sells stake in hospital redevelopment project in Vancouver, Canada
StockMarketWire.com
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Infrastructure group Balfour Beatty said it had sold its 70% stake in the BC Children's & BC Women's Hospital redevelopment project phase 2 - Teck Acute Care Centre, located in Vancouver, Canada.
The disposal proceeds of £20 million were in excess of the directors' valuation as at 31 December 2020.
The pre-tax profit on disposal was £7 million with the end to end investment multiple in excess of the group's 2x target, the company said.
'The secondary market for assets remains very strong and the group is expected to dispose of further assets in the second half of the year,' it added.
Story provided by StockMarketWire.com
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