![]() The gross proceeds were $150 million (£122 million) at the 100% level. ![]() Share of Joint Venture assets on Balance Sheet Summary financial information relating to the Property being transferred as included in Balfour Beatty Group accounts for the year ended 31 December 2021 is as follows:.+44 (0)203 810 announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. The disposal proceeds are in excess of the Balfour Beatty Directors’ valuation as of 31 December 2021, consistent with Balfour Beatty’s strategy of optimising value through the disposal of operational assets, whilst continuing to invest in new asset opportunities. The sale will generate a profit on disposal for Balfour Beatty of $47.2 million (£38.4 million). Balfour Beatty’s share of the net proceeds is $62.4 million (£50.7 million) and will be used for general corporate purposes. The disposal proceeds will first be applied to repay the debt outstanding against the Property and transaction fees, with the remainder distributed to Balfour Beatty and co-investors. The consideration for the Property is $150 million (£122 million), which is payable at completion. The transaction, which is subject to contractual conditions, is expected to complete in August. Purdue Research Foundation, which is acquiring the entire property, is acquiring Balfour Beatty’s full 67% interest. News listings Balfour Beatty announces sale of 67% interest in Purdue University assetīalfour Beatty, the international infrastructure group, today announces the sale of its 67% interest in Aspire at Discovery Park (the “Property”), the on-campus student accommodation at Purdue University in West Lafayette, Indiana.
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