Completion of Acquisition

RNS Number : 4575B

Balfour Beatty PLC

27 October 2009

 



27 October 2009

Balfour Beatty plc

BALFOUR BEATTY PLC COMPLETES THE ACQUISITION OF PARSONS BRINCKERHOFF INC.

Balfour Beatty plc ("Balfour Beatty") is pleased to announce that it has completed today its acquisition of Parsons Brinckerhoff Inc. ("Parsons Brinckerhoff"). 

As set out in the Merger Agreement, summarised in Part X of the Prospectus dated 18 September 2009, Balfour Beatty has acquired the entire issued share capital of Parsons Brinckerhoff for a cash consideration of US$626 million (approximately £380 million). 

Enquiries:

Balfour Beatty

Duncan Murray, Director of Corporate Communications

Tel. [phone]

Pelham PR

Andy Cornelius

Gavin Davis

Tel. [phone]

Notes to Editors:

Balfour Beatty (www.balfourbeatty.com) is an international engineering and construction services (including facilities management), professional services and investment group, offering customers a wide range of capabilities across infrastructure markets with a particular focus on the public sector and regulated utilities.  

We work in partnership with our customers principally in the UK, the US, South-East Asia and the Middle East, who value the highest levels of quality, safety and technical expertise.  

Our key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail). Balfour Beatty delivers services essential to the development, creation and care of these infrastructure assets including investment, project design, financing and management, engineering and construction, and maintenance management services.  

Balfour Beatty employs more than 40,000 people around the world and its strong financial position offers continuing flexibility to make appropriate investments in long-term growth opportunities.

Parsons Brinckerhoff (www.pbworld.com) is one of the world's leading professional services firms, ranked eleventh in terms of global design revenues amongst US-based companies by ENR in 2009. It is a global market leader in transportation, with a particular strength in the rail transit sector.  

Parsons Brinckerhoff offers professional services across the entire project life cycle from management consultancy and planning to design and engineering; programme, project and construction management services; and operational, maintenance and support services. Parsons Brinckerhoff is well-known for its programme management of large, complex projects and has been involved in some of the largest and most important infrastructure projects in the world.  

It operates through a network of over 100 offices and has approximately 12,650 employees.

 

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