LONDON (Reuters) - British infrastructure firm Balfour Beatty (>> Balfour Beatty plc) said on Thursday it would dispose of its 50 percent stake in a public-private partnership for 61.5 million pounds.

The company's board said the amount it had received for its partnership of a West Yorkshire hospital had "exceeded" its expectations and had generated a gain on disposal of 42.2 million pounds.

Balfour, which rejected the merger advances of its UK rival Carillion (>> Carillion plc) for the third time in August, issued its third profit warning on Monday, blaming increased losses on the mismanagement of a number of UK contracts.

(Reporting by Li-mei Hoang; Editing by David Holmes)

Stocks treated in this article : Balfour Beatty plc, Carillion plc