Centex Construction division sold to Balfour Beatty

Dallas-based Centex Construction announced this week it has completed the sale of its commercial construction division to United Kingdom's Balfour Beatty for $362 million. Part of what Centex Corporation says is a plan to focus on its core home building operations, the transaction included a home equity lending group, Centex Home Equity Co., last summer.

Balfour Beatty, an international engineering and construction group, views the purchase, which includes three South Florida offices, as an opportunity to build more business in the United States. Centex, renamed Balfour Beatty Construction LLC, delivered more than 39,000 homes during the fiscal year ending March 31, 2006, and was awarded $1.68 billion in contracts in 2006.