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Equitix Acquires Edinburgh Royal Infirmary Healthcare Asset from Balfour Beatty

27 May 2015

Balfour Beatty, the international infrastructure group, announces the sale of its 50% interest in the Royal Infirmary of Edinburgh project for a consideration of £72 million. The proceeds from the transaction are consistent with the most recent Directors’ valuation.

The investment is being acquired by funds managed by Equitix, a market leading investor and fund manager of core infrastructure assets. The sale of the investment remains subject to the right of the co-shareholder to exercise its rights of pre-emption at the proposed sale price.

The consideration is to be paid in cash in full on completion of the transaction, expected to occur by mid-June, and will be retained within the business.

Leo Quinn, Balfour Beatty Group Chief Executive, said: “This transaction again underlines the quality of the investments portfolio and its ability to generate value for shareholders. It also demonstrates our commitment to maintaining a strong balance sheet through self-help as we deliver the first phase of the Build to Last transformation programme.

About Equitix: 

 Equitix was established in 2007 and is based in London. Equitix is an integrated core infrastructure asset management and primary project platform and typically invests in UK infrastructure projects with long-term revenue streams across the healthcare, education, social housing, highways and street lighting, offshore transmissions and renewable and waste sectors. Tetragon (TFG) owns 85% of the business; over time, TFG’s holding is expected to decline to approximately 74.8%. Management own the balance. Equitix Investment Management Limited is authorised and regulated by the UK Financial Conduct Authority.

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any state or jurisdiction.