Jardine Matheson buys Balfour Beatty's 50% stake in Gammon for GBP 250 million

(AWP Alliance News) - Jardine Matheson agreed to buy Balfour Beatty's 50% stake in Gammon Construction, taking full ownership of the Asian construction and engineering group. The deal values the stake at GBP 250 million, or about USD 330 million, to be paid in three equal tranches at completion, on Dec. 31, 2027, and on Dec. 29, 2028. The price is fixed with no post-closing adjustments, with Jardine acquiring the business with its cash on the balance sheet and future dividend entitlements.

The transaction is expected to be modestly accretive from the first year. Gammon will sit within Jardine's Jardine Engineering & Infrastructure platform alongside other controlled and joint-venture assets.

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Disclaimer: This news brief was created using generative artificial intelligence. Jardine Matheson Holdings Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) on October 13, 2026, and is solely responsible for the information contained therein.