Skanska divests its investment in the M25 motorway in London, UK, for about SEK 2.9 billion
Skanska has signed a Sale and Purchase Agreement (SPA) for its investment in the M25 motorway in London, UK, for about SEK 2.9 billion. The buyer, Edge Orbital Holdings Limited, is a consortium of institutional investors arranged and advised by Macquarie Capital (Europe) Limited. The transaction is expected to be recorded by Skanska Infrastructure Development in the first quarter of 2017.
Skanska is divesting its 40 percent ownership in Connect Plus, who is managing the M25 orbital motorway that encircles almost all of Greater London. In addition to Skanska, Connect Plus shareholders include Balfour Beatty, Atkins and Egis. The project is carried out as a Public Private Partnership (PPP).
Completion of the sale is subject to, among other, consent of Highways England Company Limited. The final purchase price may be adjusted as a result of certain conditions. It is anticipated that completion of the divestment will take place early 2017.
Skanska will announce the final amount and confirm the expected closing of the divestment in connection to the completion and payment of the transaction.
Skanska Infrastructure Development is a leader in the global Public Private Partnerships (PPP) market. The business unit invests in, develops and operates roads, hospitals, schools, power plants and other social infrastructure in partnership with the public sector.