Balfour sheds US design arm

 
Oliver Smith
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CANADA’S WSP Global is set to buy Balfour Beatty’s US design division Parsons Brinckerhoff for £820m, the business arm that had been a stumbling block for Balfour’s failed £3bn merger with rival Carillion.

The deal will allow WSP to expand in the UK and give it a stronger presence in growth regions.

Balfour said it plans to return £200m to shareholders and invest the remainder in reducing the firm’s pension deficit and debt.