Balfour Beatty has sold a further 5% stake in Connect Plus to Equitix Investment Management.

The deal, which is worth £42 million, marks the third partial sale of the business, a joint venture (JV) with Skanska responsible for providing highway network, asset operation and maintenance on the M25 motorway.

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Overall, Balfour Beatty has sold 25% of its original 40% holding in the JV for a total cash consideration of £207m.

Leo Quinn, Group Chief Executive, said: "This transaction again demonstrates the ongoing attractiveness of our infrastructure assets and is in line with our declared intent to maximise value for shareholders."

(LM)