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Balfour Beatty agrees on Parsons Brinckerhoff sale to WSP

Sep 04, 2014 - The Deal Pipeline
Mergers and Acquisitions

U.K. infrastructure services and construction group Balfour Beatty plc agreed late on Wednesday to sell engineering consultancy Parsons Brinckerhoff Inc. to Canada's WSP Global Inc.for an unexpectedly rich $1.242 billion, plus an additional consideration for cash retained by the target of up to $110 million.

The deal will create a consultancy with pro forma net revenue of $3.8 billion for the 12 months to June 28 and is as important a plank in Balfour's turnaround strategy as in the growth...