Disposal - Doncaster Schools PFI project for ?5.3m

RNS Number : 4224R

HICL Infrastructure Company Ld

19 November 2012

 



19 November 2012

HICL Infrastructure Company Limited

Disposal of Doncaster Schools PFI project for £5.3m

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, announces that the Group has sold its 50% equity and loan note interest (the "Interest") in Doncaster Schools PFI project (the "Project") to Vinci Pensions Limited, an affiliate of the co-shareholder Vinci (Holdings) Limited in the Project.

This Project was acquired in December 2011 as part of a portfolio acquisition of 26 assets. The disposal follows a review to evaluate the possible opportunities for portfolio rationalisation.

The total consideration received for the Project disposal is £5.3m, which generates a small profit for the Group.

Graham Picken, Chairman of the Company said:

"With a growing portfolio of investments, some of which have been acquired as part of multi-asset transactions, as in the case of Doncaster Schools,   the Company will from time to time divest certain projects in order to optimise portfolio performance."

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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 75 infrastructure investments, all of which are social infrastructure 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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