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.”