HICL Infrastructure Company Limited - Acquisition of a portfolio of six operational education projects in the UK and Ireland
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 £22.7m. 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%.
For further information, please refer to the RNS issued by HICL