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Balfour Beatty sells stake in Royal Infirmary of Edinburgh project to Equitix-managed funds

Balfour Beatty has raised £72m through the sale of its 50 per cent interest in the Royal Infirmary of Edinburgh project.

The stake has been acquired by funds managed by Equitix.

Cash will be paid in full when the transaction completes – expected to be by mid-June – and Balfour Beatty said the sum raised would be “retained within the business”.

According to its investments website, Balfour Beatty had invested approximately £40m in equity in the Royal Infirmary of Edinburgh project, which completed in 2003 under a 30-year concession.

Balfour Beatty group chief executive Leo Quinn said: “This transaction again underlines the quality of the investments portfolio and its ability to generate value for shareholders.

“It also demonstrates our commitment to maintaining a strong balance sheet through self-help as we deliver the first phase of the Build to Last transformation programme.”

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