Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Balfour Beatty ‘seeks bidders’ for Exeter Airport stake

Balfour Beatty is sounding out prospective bidders for its 60 per cent stake in Exeter Airport, according to reports.

Sky News reported today that the group is to offload its stake in the airport amid pessimism over future passenger numbers.

The broadcaster says Balfour has “begun sounding prospective bidders” in recent weeks, and that the sales process is at an early stage.

Balfour recently issued two profit warnings within six months of each other, prompting chief executive Andrew McNaughton to tell Construction News the firm was looking for internal answers.

Balfour sold two PFI stakes in health and education earlier this month, for a total of £58.5m.

Balfour bought the airport in 2007, but wrote down the value in August 2012 from £12m to zero, according to Sky.

Balfour has been contacted for comment.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.