Acquisition of an additional interest

RNS Number : 4908X

HICL Infrastructure Company Ld

16 February 2012

 



16 February 2012

HICL Infrastructure Company Limited

Acquisition of an additional interest in the Dorset Fire & Rescue PFI Project for £3.8m

Further to the announcement made on 20 December 2011 regarding the acquisition of a portfolio of 26 projects by HICL Infrastructure Company Limited (the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company,  the Company is pleased to announce the acquisition of an additional 33.5% equity and loan note interest in the Dorset Fire & Rescue PFI Project (the "Project") from Morgan Sindall Investments Limited, bringing the Group's total interest in this Project to 67%.

The Project is a 27 year concession to design, build, finance and maintain a combined Police and Emergency Services Headquarters building in Poole, a Fire Station in Poole and a Fire Station and Fire Services Headquarters building in Poundbury, Dorchester. The Project reached Financial Close in July 2007 and construction was completed in December 2009.  Hard FM services are undertaken by Cofely Technical Services (part of the GDF Suez group).

The total consideration paid by the Group was £3.8m which 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 and debt resources.

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Enquiries

InfraRed Capital Partners Limited                              [phone]

Tony Roper

Keith Pickard

Sandra Lowe

Tulchan Communications                                           [phone]

Ed Orlebar

Rebecca Scott

Collins Stewart Europe Limited                                   [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 70 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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