Sale of investment

RNS Number : 5694O

Carillion PLC

30 June 2010

 

30 June 2010

Carillion sells investment in Public Private Partnership project for £31.3 million.

Carillion plc has sold its investment in the Queen Alexandra Hospital Public Private Partnership project to HSBC Infrastructure Company Limited for a total cash consideration of £31.3 million.

At 31 December 2009, the combined value of the assets in Carillion's balance sheet that are the subject of the transaction was £1.1 million.  Since that date, Carillion has also made further investments in these assets. The total combined pre-tax loss attributable to these assets was £0.6 million in 2009.  

This disposal is in line with Carillion's policy of recycling equity in its investments in Public Private Partnership projects, from projects on which construction is complete into new projects.

The Queen Alexandra Hospital, Portsmouth, was built by Carillion and Carillion will continue to provide facilities management services to the hospital under its current 35 year contract.   

For further information contact:

John Denning, Director Group Corporate Affairs                 [phone]

Finsbury

James Murgatroyd or Gordon Simpson                             [phone]

Notes to editors

Carillion is one of the UK's leading support services companies with a substantial portfolio of Public Private Partnership projects and extensive construction capabilities.  The Group has annual revenue of over £5 billion, employs around 50,000 people and operates across the UK, in the Middle East, Canada and the Caribbean.

In the UK, Carillion's principal market sectors are Defence, Education, Health, Facilities Management & Services, Rail, Roads, Building, Civil Engineering and Utilities Services.

In the Middle East, Carillion's principal market sectors are Construction and Facilities Management. In Canada and the Caribbean, the Group's main sectors are Health, Roads Maintenance and Construction.

Carillion's portfolio of equity investments in Public Private Partnership projects includes projects in the UK and Canada, particularly in the Defence, Education, Health and Transport sectors.

This and other Carillion news releases can be found at www.carillionplc.com

 

END

 

 

MSCURRVRRKANOAR