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Fri August 02 2024

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Balfour Beatty plans FM disposal

4 Feb 13 Balfour Beatty has confirmed that it is looking to sell its Workplace facilities management division.

The company has appointed Citigroup to advise on the sale, which could raise £250m, the Financial Times reported on Friday.

Balfour Beatty swiftly responded by issuing a statement confirming the story, saying that it was “exploring strategic options for this business in keeping with its strategy to focus on economic infrastructure”.

Financial information on the business has been sent to potential bidders, including private equity firms and other FM contractors.

Balfour Beatty WorkPlace accounts for £650m of the group’s £11bn revenue.

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