News / Balfour Beatty to sell stake in Exeter airport

Balfour Beatty to sell stake in Exeter airport

🕔 May 29, 2013
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Reuters has reported that Balfour Beatty has started looking for buyers for its 60 % stake in Exeter International Airport. Balfour Beatty sold stakes in five PFI projects earlier this month, as its management team is speeding up a revamp of its asset portfolio.

Balfour led a consortium which bought the airport in 2007. In August last year, Balfour wrote down the value of its holding in Exeter Airport from £12m to zero.

The remaining shareholding in Exeter airport is owned by Galaxy, a specialist fund which is backed by French and Italian investors and the European Commission. It is unclear whether the Galaxy shareholding is also up for sale or what price Balfour is seeking for its stake.

Other transactions in the airport sector in the UK include:

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