- Balfour Beatty said it had sold an additional 5% stake in Connect Plus, the company which operates the M25 orbital motorway, to funds managed by Equitix Investment Management for £42m.

The expected profit on disposal on the transaction was £22m, which would be used to pay down debt, the company said.

Balfour Beatty had now sold 25% of its original 40% holding for a total of £207 million.

Equitix also exercised an option on the previous 7.5% partial sale so that the total 25% sell down was split equally between Equitix and Dalmore Capital.

'This transaction again demonstrates the ongoing attractiveness of our infrastructure assets and is in line with our declared intent to maximise value for shareholders,' chief executive Leo Quinn said.

At 1:31pm: [LON:BBY] Balfour Beatty PLC share price was -4.6p at 275.9p

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