Disposal of Doncaster Schools Project
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.”