Prime Highlights-
- Balfour Beatty sells its 50% stake in Hong Kong contractor Gammon to partner Jardine Matheson for £250m, sharpening its focus on UK and US growth.
- CEO Philip Hoare says the Gammon investment has been highly successful, delivering a steady dividend for many years under the group’s profitable growth strategy.
Key Facts-
- Balfour Beatty has held its Gammon stake since 2004, when it paid Skanska around £36m.
- Jardine Matheson will make three equal payments, with the final one due at the end of 2028.
Background-
Balfour Beatty has sold its 50% stake in Hong Kong building and civils contractor Gammon to joint venture partner Jardine Matheson for £250m.
The company has held its stake in Gammon since 2004. It paid Skanska around £36m for half of the business, while Jardine Matheson kept the other half.
Balfour Beatty said the sale lets it focus fully on its UK and US businesses. Chief Executive Philip Hoare said the investment in Gammon has been highly successful and has provided a steady dividend for many years.
Hoare said the move fits the group’s profitable growth strategy. He said Balfour Beatty is focused on the opportunities across its chosen US and UK markets, where it sees significant potential.
Jardine Matheson will pay for the stake in three equal payments. The final payment is due at the end of 2028.
Gammon delivered turnover of £1bn in 2025 and held operating profit steady at £36m in Balfour Beatty’s latest results. The business enters its next chapter under full Jardine Matheson ownership with a solid financial base.
The sale turns a long-running partnership into a strong return for Balfour Beatty. The company now directs its resources toward growth in the UK and US.
