BALFOUR BEATTY PLC 10 October, 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
On 3 September 2014 Balfour Beatty announced the proposed sale of Parsons Brinckerhoff to WSP Global Inc. (the "Transaction") for US$1,352.5 million (£820 million). The sale price represents a significant return on Balfour Beatty's investment and a compelling level of value creation for shareholders, which remains a key focus of Balfour Beatty's Board.
Balfour Beatty announces today that the shareholder circular (the "Circular") relating to the Transaction has been approved by the UK Listing Authority and is available for viewing on the company's website www.balfourbeatty.com.
The Circular contains a notice convening a General Meeting to be held at 9.30a.m. on 28 October 2014 to consider and, if thought fit, to approve the Transaction. The meeting will be held at Goldman Sachs International, River Court, 120 Fleet Street, London EC4A 2BE.
The Circular will be posted to shareholders shortly, together with the form of proxy for the General Meeting. A copy of the Circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.
The Transaction remains subject to customary closing conditions, including approval by shareholders at the General Meeting and certain antitrust and other approvals. The Transaction is expected to complete during the fourth quarter of 2014 and further details, including the expected timetable of events leading to their completion, are set out in the Circular.
Analyst/investor enquiries:
Anoop Kang
Tel. +44 (0)20 7216 6913
anoop.kang@balfourbeatty.com
Media enquiries:
Patrick Kerr
Tel. +44 (0)20 7963 4258
patrick.kerr@balfourbeatty.com
Notes to editors
Balfour Beatty
Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance.
Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK and the USA, with developing businesses in Australia, Canada, the Middle East and South East Asia. With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors focus on infrastructure - transportation (roads, rail and aviation), power and energy, water, and complex buildings (both commercial and social).
Balfour Beatty employs 40,000 people around the world.
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