Acquisition of a Primary Care Facility

RNS Number : 1462H

HICL Infrastructure Company Ld

09 July 2012

 



9 July 2012

HICL Infrastructure Company Limited

Acquisition of a Primary Care Facility for £2.9m

HICL Infrastructure Company Limited (together with its subsidiaries, the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition by the joint venture holding company (in which the Group has a 75% shareholding) which it owns with Kajima Partnerships Ltd, of a further PFI project, an 8,000m² Primary Care Facility (the "Project") in the north-west of England for £2.9m. The Project offers a range of services including diagnostics, a GP practice, children's services, a physiotherapy and mental health unit and a community cafe. The construction cost for the Project was approximately £19m and it became operational in 2009.

The consideration paid for the Project is in line with the current valuation of similar UK PFI projects in the Group's portfolio.

The acquisition was funded from the Group's existing cash resources, and takes the number of infrastructure investments in the Group's portfolio to 73.

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Enquiries

InfraRed Capital Partners Limited             [phone]

Tony Roper

Keith Pickard

Robin Hubbard

Tulchan Communications                         [phone]

Ed Orlebar

Rebecca Scott

Canaccord Genuity                                  [phone]

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

HICL Infrastructure Company Limited

The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. It currently owns a portfolio of 73 infrastructure investments, all of which are PFI/PPP/P3 projects, and is seeking further suitable investment opportunities which fit its stated Investment Strategy.

Further details of the Company can be found on its website www.hicl.com.

Investment Adviser

The Investment Adviser to the Company is InfraRed Capital Partners Limited, whose infrastructure investment team has successfully invested in infrastructure projects since 1997.

InfraRed Capital Partners Limited is authorised and regulated by the Financial Services Authority.

 

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