PFI assets investor John Laing Infrastructure Fund launched a £1bn bid for Balfour’s PFI portfolio on Monday morning.

Balfour replied with a Stock Exchange statement which said: “Balfour Beatty notes the announcement by the John Laing Infrastructure Fund Ltd (JLIF) that it intends to make a non-binding proposal for Balfour Beatty’s PPP portfolio.

“The Board of Balfour Beatty will review the proposal once received from JLIF. A further announcement will be made in due course, as appropriate.

“As previously stated, the Board remains open to value creation opportunities across the group while it concentrates on the restoration of value to its shareholders.”