Balfour Beatty, the international infrastructure group, has completed the sale of two assets from its Infrastructure Investments portfolio. The company sold its 49.5% interest in UBB Waste (Gloucester) Holdings Limited, the owner of an energy from waste facility in Javelin Park near Gloucester, to Urbaser Investment Limited. It also sold its 50% interest in the Moretti multifamily housing community in Birmingham, Alabama to Henssler Capital, LLC. The combined gain on disposal for both assets is £25.8 million, in line with the company's prior expectations for 2023 gains on disposal. The proceeds from each sale exceeded the Balfour Beatty Directors' valuation as of June 30, 2023. The company expects no further Infrastructure Investments disposals in 2023.
Balfour Beatty's strategy is to optimize value through the disposal of operational assets while continuing to invest in new asset opportunities. The company aims to deliver powerful new solutions, shape thinking, and create skylines. It has 25,000 employees and operates in the financing, development, construction, maintenance, and operation of critical infrastructure. Balfour Beatty has a track record of delivering iconic buildings and infrastructure worldwide. Some of its current projects include Hinkley Point C, the first UK nuclear power station in a generation, the Lyric Theatre in Hong Kong, and the Automated People Mover superstructure at Los Angeles International Airport.