Balfour Beatty has rejected a bid for its public-private partnership (PPP) concession portfolio from John Laing Infrastructure Fund (JLIF) saying the UK£ 1 billion (US$ 1.54 billion) fell short of its own view of the assets' value. The UK contractor's valuation of its PPP portfolio was UK£ 1.05 billion (US$ 1.62 billion), as at 28 June, 2014. However, it said the groups approach to selling assets as each investment matured, combined with the current and expected future strength of the market, meant the realisable value of its PPP portfolio was more than the current valuation, which in any case was greater than JLIF's bid.
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