GCP Infrastructure is investing £16.5m in GCP Education 1 – this will finance the acquisition of the debt related to a school PPP.
With this deal, GCP Infrastructure has invested 64% of the money it raised for its C share and this is enough to trigger the merger of the C share and ordinary share classes. The calculation for the conversion ratio will be done based on net asset values as at 1 August and will be effective on 8 August when dealings in the new shares will start.