Balfour Beatty to return 200 mln stg to investors after U.S. sale

Thu Sep 4, 2014 2:19am EDT
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LONDON, Sept 4 (Reuters) - British building group Balfour Beatty said it would return up to 200 million pounds ($329 million) to shareholders and reduce its pension fund deficit after agreeing to sell its Parsons Brinckerhoff business for almost $1.24 billion.

The sale of the U.S. professional services division to Canada's WSP Global Inc, which is expected to complete in the fourth-quarter of 2014, was announced late on Wednesday.

Balfour said on Thursday in addition to the investor payout, around 85 million pounds of the proceeds would be used to reduce the group's pension fund deficit.

(1 US dollar = 0.6078 British pound) (Reporting by Neil Maidment; Editing by Mark Potter)