Morgan Sindall PLC
01 February 2006
Morgan Sindall plc
('Morgan Sindall' or 'the Group')
Primary Medical Property shareholding transaction
Morgan Sindall today announces a transaction in relation to Primary Medical
Property Limited ('PMP'), in which the Group previously had a 47.5%
shareholding. PMP undertakes the development and management of specialist
healthcare property for retention as investments.
Initially, the Group purchased the remaining 52.5% shareholding in PMP from
certain private individuals. Subsequently, the Group has agreed to dispose of
50% of its interest by way of entering into a 50-50 owned joint venture
agreement with a fund managed by Barclays Private Equity.
For the year ended 31 December 2004, based on the most recent audited accounts,
PMP had gross assets of £60.4 million.
Paul Smith, Chief Executive of Morgan Sindall said:
'This deal facilitates the further development of our business in the health
sector and provides exciting new opportunities for growth in the area of primary
care.'
1 February 2006
Enquiries:
Morgan Sindall plc Tel: 020 7307 9200
Paul Smith, Chief Executive
David Mulligan, Finance Director
College Hill Tel: 020 7457 2020
Alex Walters
Matthew Smallwood
This information is provided by RNS
The company news service from the London Stock Exchange KBABKDOBK
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