Balfour Beatty to offload controversial hospital stake
Chief executive Ian Tyler is gearing up to sell the group's one-third stake in University College Hospital off Tottenham Court Road in central London. The project was heavily criticised when costs soared from £120m to £430m, and it was cited by those who argued that PFI was privatisation by stealth and was doomed to economic failure. Opened in 2005, Balfour Beatty has decided to cash in on the stake it still holds in the project, which was a redevelopment of a hospital first built in 1834. The Read more [...]