Balfour Beatty is the target of a possible bid by the John Laing Infrastructure Fund in a move which could see the breakup of the UK’s largest construction company, according to a report in yesteday’s Sunday Times.
The newspaper said JLIF is currently considering a £1 billion bid for Balfour Beatty’s portfolio of private finance initiative contracts.
Balfour has seen a steady stream of senior level departures in recent months. Last month saw the firm announce the departure of Chief Financial Officer who will leave the business in 2015. The hunt is now on to find his successor.
In October the firm announced the appointment of Leo Quinn, current head of defence research group Qinetiq, as its new Chief Executive Officer who will take up his new position and join the Board on 1 January 2015.
According to the Sunday Times, the £8.5bn turnover company has seen a slump in its market capitalisation to just £1.26bn after a string of profit warnings.
Earlier this year Balfour Beatty fought off a takeover bid from rival Carillion after the firms failed to agree on the inclusion of Balfour’s US services business Parsons Brinckerhoff in the deal. Balfour has since completed the sell-off of Parsons for around £750m to Canadian firm WSP Global.
Craig Nienaber, Business Development Manager for Safe Access Solutions (SAS) at HUBER Technology, explores why the company is seeing a growing level of interest in its safe access solutions for critical infrastructure providers, including their application in wastewater treatment assets.
Albion Water, the first NAV (New Appointment & Variation) to have been established in1999 and now under the ownership of SDS Water Group, has appointed Andy Holland as its new Director of Business Development.
UK water companies are invited to join an upcoming webinar which will explore how the sector can take indirect potable reuse (IPR) from concept to full-scale operational reality.
James Sumsion, CEO of predictive water intelligence specialists Kohtari, says the water sector needs to take a giant leap forward, so that it can anticipate and act upon water quality issues - rather than merely react.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.