Balfour Beatty sells 80% stake in five street lighting projects

Construction company Balfour Beatty has sold its 80% stake in five street lighting private finance initiatives to funds managed by Equitix, an investment firm, for £33m.

The sale of the street lighting projects will be retained within the company.

The FTSE 250 company said the proceeds are in excess of the director's valuation and it may receive further cash when the latest results of a number of the street lighting projects are published.