Balfour Beatty sells Hong Kong Gammon stake for £250m

Balfour Beatty has sold its half share in Hong Kong contractor Gammon for £250m as chief executive Philip Hoare sharpens the group’s focus on the UK and US.
Long-standing joint venture partner Jardine Matheson has taken full ownership of the civil engineering and building business, ending a partnership dating back to 2004.
The deal completed today but Balfour will receive the cash in three equal instalments, with the final payment due by the end of 2028.Hoare said: “Balfour Bea