A former Balfour Beatty director will lead a proposal by John Laing Infrastructure Fund for Balfour’s portfolio of road, school and hospital investments.
Paul Lester will lead the £1 billion-plus offer, which is likely to come in the new year.
The fund’s two largest shareholders, Schroders and Newton, are thought to back the offer, as is JP Morgan Cazenove. The latter will support fundraising that could involve a rights issue of £800 million.
Click here for the full Times article (£)
