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Skanska Sells 50% of Walsall Manor Hospital for £17 Million

Walsall Manor Hospital near Birmingham, UK

Skanska, the Swedish-based public works & construction firm, has sold its 50% equity holding in Walsall Manor Hospital near Birmingham, UK, to Barclays Infrastructure Funds Management Limited.

The £17 million sale will see Barclays take a stake in the company which financed, designed, constructed and currently operates the hospital under a public private partnership scheme. Skanska’s equity partner is Innisfree, who holds the remaining 50 percent share in the project company.

Skanska will remain responsible for the hard facilities at the hospital, under a separate contract.

Over the pond, Skanska USA just signed a contract to build the Fore River Bridge in Boston, USA for US $98 million. The project will be a joint venture with J.F. White Contracting Company.

The total project is worth around US $245 million and is being awarded by the Massachusetts Department of Transportation.

Skanska will design and build a vertical lift bridge connecting the towns of Weymouth and Quincy. The company will also demolish the current temporary bridge and build a new one where the original Fore River Bridge was located. Work is expected to be complete by February 2017.

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Business Desk
Editors and staff from the Business Desk at The Global Herald.

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