Balfour Beatty sells interest in Greater Gabbard project

Infrastructure group Balfour Beatty has sold its 33.3% interest in the Greater Gabbard Offshore Transmission project for £25.5m.

The investment is being acquired by funds managed by Equitix, an investor and fund manager of core infrastructure assets.

Balfour said the consideration is to be paid in cash in full on completion of the transaction and will be retained within the group.

A Balfour-led consortium acquired the transmission assets of the greater Gabbard offshore wind farm in November 2013.

At 1400 GMT, shares were up 1% to 265.70p.