balfour lonBalfour Beatty, the international infrastructure group, today announces that it has reached an agreement with a subsidiary of CBRE Group, Inc. to sell Heery International (Heery), its full-service US engineering and programme management, architecture and interior design firm.  The transaction, which is subject to certain contractual consents, is expected to complete before year end for a total cash consideration of $57 million (c.£42 million), subject to working capital and debt adjustments. For the year ended 31 December 2016, Heery’s gross assets were £78.2 million, net assets were £21.5 million and profit before tax was £2.4 million. This transaction will release funds to Balfour Beatty to be used in the normal course of business. Read More