Balfour Beatty completes two disposals

Balfour Beatty has completed two disposals, the infrastructure specialist confirmed on Thursday, raising nearly £26m.

The firm, which finances, develops, builds and maintains infrastructure projects worldwide, has sold its 49.5% interest in UBB Waste (Gloucester) Holdings - which owns a waste facility in the south west - to Urbaser Investment.

It has also sold its 50% interest in the Moretti housing project, in Birmingham, Alabama, to Henssler Capital.

In total, the combined gain on the disposals is £25.8m.

Balfour Beatty said the sales were in line with its guidance for gains on disposals of between £15m and £30m in the current year, with proceeds ahead of the internal valuations.

It added that it expected no further infrastructure investment disposals in 2023.

As at 1030 GMT, shares in the firm were flat at 311p.