Balfour Beatty publication of Circular relating to the proposed disposal of Parsons Brinckerhoff
10 October 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
On 3 September 2014 Balfour Beatty announced the proposed sale of Parsons Brinckerhoff to WSP Global Inc. (the “Transaction”) for US$1,352.5 million (£820 million). The sale price represents a significant return on Balfour Beatty’s investment and a compelling level of value creation for shareholders, which remains a key focus of Balfour Beatty’s Board.
The Circular contains a notice convening a General Meeting to be held at 9.30a.m. on 28 October 2014 to consider and, if thought fit, to approve the Transaction. The meeting will be held at Goldman Sachs International, River Court, 120 Fleet Street, London EC4A 2BE.
The Circular will be posted to shareholders shortly, together with the form of proxy for the General Meeting. A copy of the Circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at:www.morningstar.co.uk/uk/NSM.
The Transaction remains subject to customary closing conditions, including approval by shareholders at the General Meeting and certain antitrust and other approvals. The Transaction is expected to complete during the fourth quarter of 2014 and further details, including the expected timetable of events leading to their completion, are set out in the Circular.
Tel. +44 (0)20 7216 6913
Tel. +44 (0)20 7963 4258