HICL Infrastructure Company Ld Completion of Acquisition (8734P)
23 November 2016 - 6:00PM
UK Regulatory
TIDMHICL
RNS Number : 8734P
HICL Infrastructure Company Ld
23 November 2016
23 November 2016
HICL Infrastructure Company Limited
Completion of Acquisition
HICL Infrastructure Company Limited ("HICL" or the "Company"),
the listed infrastructure investment company advised by InfraRed
Capital Partners Limited ("InfraRed"), is pleased to announce
completion of the acquisition of a portfolio (the "Portfolio") of
six operational education PPPs from HOCHTIEF PPP Solutions GmbH.
The total consideration paid was GBP22.7m. The conditional
acquisition was announced on the 16 November 2016 as part of the
Company's Interim Results for the six months ended 30 September
2016.
The Portfolio comprises four new and two incremental
investments:
-- a 20.4% interest in Bangor and Nendrum Schools;
-- a 25.5% interest in Salford Schools;
-- a 25.5% interest in East Ayrshire Schools;
-- a 25.5% interest in North Ayrshire Schools; and
-- incremental interests of 25.5% each in both Manchester School
and Cork School of Music, which brings the total interests for HICL
Group in these two projects to 75.5%.
The consideration paid for the Portfolio was funded from
existing cash resources. The Company currently has a funding
surplus of approximately GBP11m.
-ends-
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Tony Roper
Keith Pickard
Harry Seekings
Tulchan Communications +44 (0) 20 7353 4200
David Allchurch
Latika Shah
Canaccord Genuity Limited +44 (0) 20 7523 8000
Dominic Waters
Neil Brierley
Will Barnett
David Yovichic
HICL Infrastructure Company Limited
HICL Infrastructure Company Limited ("HICL" or the "Company",
and together with its subsidiaries the "HICL Group") is a long term
investor in infrastructure assets which are predominantly
operational and yielding steady returns. It was the first
infrastructure investment company to be listed on the London Stock
Exchange. With a current portfolio of 112 infrastructure
investments (including one commitment with limited conditions to
completion), HICL is seeking further suitable opportunities, which
are positioned at the lower end of the risk spectrum, in three
target markets segments: PPPs; regulated assets; and demand-based
assets.
Further details can be found on the HICL website,
www.hicl.com.
Investment Adviser
The Investment Adviser to HICL is InfraRed Capital Partners
Limited ("InfraRed") which has successfully invested in over 160
infrastructure projects since 1997. InfraRed is a leading
international investment manager focused on infrastructure and real
estate. It operates worldwide from offices in London, Hong Kong,
New York, Seoul and Sydney. With over 120 professionals it manages
in excess of USD 9bn of equity capital in multiple private and
listed funds, primarily for institutional investors across the
globe. InfraRed is authorised and regulated by the Financial
Conduct Authority.
The infrastructure investment team at InfraRed consists of 60
investment professionals, all with an infrastructure investment
background and a broad range of relevant skills, including private
equity, structured finance, construction, renewable energy and
facilities management.
Further details can be found on InfraRed's website,
www.ircp.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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