HICL Infrastructure Company Limited - Acquisition of a new investment for €87m
HICL Infrastructure Company Limited ("HICL" or the "Company"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), is pleased to announce that it has completed the acquisition of a 13.8% interest in the A63 motorway project (the "Project") from ColasSud Ouest and Spie Batignolles.
The Company has previously communicated to investors that it had entered into an agreement with the vendors to purchase the interest, subject to limited conditions to completion. Those conditions have been met and the consideration of €87m has been paid.
The Project is a 40-year toll-road concession to design, build, finance, operate and maintain an upgraded 104km section of the A63 highway between Salles and Saint-Geours-de-Maremne, in southwest France. Phase 1 of the works was successfully delivered in April 2013, five months ahead of plan. Phase 2 was completed in November 2013, seven months ahead of plan. The Project's senior debt was refinanced with long-term debt in June 2015.
Please follow the link for the RNS issued by HICL.