26-Jun-2013 7:06 PM
Balfour Beatty announces sale of Exeter airport
Direct News Source
26-Jun-2013 Balfour Beatty, the international infrastructure group, announces the sale of its interest in Exeter Airport to Patriot Aerospace, the aviation division of Rigby Group PLC. The carrying value of the Group's investment had been written down to £nil in 2012. The proceeds from the sale will be used to repay the funders.
Commenting today, Balfour Beatty Chief Executive, Andrew McNaughton, said:"We are pleased to have come to an arrangement with our JV partner and the funders that ensures the future viability of the airport for its staff and the local community it serves."