INPP Makes Further Investment into UK Schools

RNS Number : 8437V

International Public Partnerships

12 August 2020

 

12 August 2020

INPP MAKES FURTHER INVESTMENT INTO UK SCHOOLS

International Public Partnerships Limited, the FTSE 250 listed infrastructure investment company ("INPP" or the "Company"), has acquired an accretive additional interest in the Bradford and Lewisham Building Schools for the Future ("BSF") Projects (the "Projects").

INPP will commit a further c.£3.6 million to acquire stakes in the six PFI project companies that own the fourteen schools providing education facilities to over 17,000 pupils across Bradford and Lewisham, UK.  The investment builds on the existing commitment of over £200 million that the Company has already made to develop and refurbish over 200 individual schools across the UK as part of the broader BSF programme.

INPP acquired the additional interest in the Projects from Costain Construction and Engineering Limited to increase the Company's existing investment by 4% in each of the six underlying project companies.  Upon completion the Company will hold a 54% investment in three of the Lewisham BSF schemes and 45% in the fourth, as well as increasing its share in the two Bradford schemes to 15.5% and 19% in the phase 1 and phase 2 schemes respectively.

Mike Gerrard, Chairman of International Public Partnerships, said: "We are very pleased to make this further investment into the Bradford and Lewisham BSF projects, building on the Company's existing stakes in these UK schools."

FOR FURTHER INFORMATION:

International Public Partnerships Limited                       Erica Sibree / Amy Joslin                       T: [phone] / 0587

Numis Securities Hugh Jonathan T:[phone]

FTI Consulting Ed Berry T: [phone] Mitch Barltrop T: [phone]

ABOUT INTERNATIONAL PUBLIC PARTNERSHIPS:

INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in 130 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists of approximately 130 staff who are responsible for the management of, advice on and origination of infrastructure investments.

 

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