Deals

Barclays, Kelda pick up Balfour Beatty PPP stakes

Balfour Beatty has sold stakes in two Scottish PPPs to Barclays Integrated Infrastructure Fund and a subsidiary of Kelda Water for £24.1m.

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Barclays Integrated Infrastructure Fund and a subsidiary of Kelda Water have bought £24.1 million (€27.9 million; $37.2 million) of stakes in two public-private partnerships divested by UK infrastructure group Balfour Beatty.

UK utility Kelda Water, owned by Citigroup and HSBC, has bought Balfour Beatty’s entire 50 percent interest in Aberdeen Environmental Services, a consortium that runs four wastewater treatment plants and in which Kelda was already a stakeholder. 

Barclays Integrated Infrastructure Fund picked up a 23.9 percent consideration in Consort Healthcare Holdings, the consortium that holds the Edinburgh Royal Infirmary hospital.

Balfour Beatty said the sales have netted it an aggregated profit of some £21 million.