Balfour Beatty backs away from Middle East joint ventures
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Builder Balfour Beatty is continuing to focus on the UK, US and Asia, striking a deal to sell its Middle East joint ventures.
The group said today that it will sell its entire share of Dutco Balfour Beatty and BK Gulf for £11m, following an agreement with its JV partner. The move is still subject to a sign-off from regulators.
Chief executive Leo Quinn said the move forms part of an effort to “simplify” the business. The company has been backing away from the Middle East, Indonesia and Australia since 2015.
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