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Wednesday, September 3, 2014

BRIEF-Balfour Beatty sells Parsons Brinckerhoff to WSP Global for $1.4 bln, (TSE: WSP.TO)

Balfour Beatty : * Announces sale of Parsons Brinckerhoff to WSP Global Inc for $1,352.5 million (820 million pounds)* Sale price assumes cash of $110 million (67 million pounds) is retained within Parsons Brinckerhoff* Transaction is also subject to certain antitrust and other approvals* Completion of the sale of Parsons Brinckerhoff is expected in Q4 2014

WSP Global Inc. is a professional services firm, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines, from designing zero-carbon cities to project managing large-scale infrastructure projects. Shares of WSP traded higher by 0.52% or $0.19/share to $36.95. In the past year, the shares have traded as low as $29.00 and as high as $39.50. On average, 79214 shares of WSP.TO exchange hands on a given day and today's volume is recorded at 33625.