U.K.-based international contractor Balfour Beatty plc. is awaiting a formal $1.6 billion cash offer for all of its public-private-partnership projects from John Laing Infrastructure Fund.
The London-based fund announced on Dec. 1 that it would finance the acquisition by raising new equity from its investors.
Balfour Beatty’s PPP portfolio of some 60 projects represents a key pillar of the group’s business built up over many years.