The sale of Parsons Brinckerhoff by Balfour Beatty has been given shareholder go-ahead with 93% voting in favour of the deal.
The international infrastructure group announced that the resolution proposed at its General Meeting held earlier today to approve the proposed disposal of Parsons Brinckerhoff to WSP Global Inc. was passed by the majority of shareholders with 93% of votes cast in favour.
Completion of the transaction is expected shortly and a further announcement will be made in due course.
Commenting on the sale, Executive Chairman Steve Marshall said:
“This sale represents a significant return on Balfour Beatty’s investment and a compelling level of value creation for shareholders. Balfour Beatty is now a simpler, stronger and more focused business, and with Leo Quinn joining as new CEO in the New Year the business is well positioned for the future as the construction and infrastructure markets develop.”
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