LONDON Aug 27 British building group Balfour
Beatty said the value of its public-private partnership
portfolio had increased by 46 percent to 1.05 billion pounds
($1.74 billion) following a review.
The company, fresh from snubbing a merger proposal from
rival construction firm Carillion last week which it
said undervalued it, said the review was based on a new
valuation methodology reflecting amongst other things improved
cash flow and macro-economic assumptions.
Public-private partnerships are infrastructure ventures
which are funded by a partnership of government and company
Balfour Beatty is involved in a total of 37 such projects in
Britain and 26 in North America including building roads,
hospitals, schools and military housing.
The valuation increase announced on Wednesday was driven by
a 63 percent rise in its UK portfolio to 801 million pounds.
($1 = 0.6039 British Pounds)
(Reporting by Sarah Young; editing by Kate Holton)