HICL and INPP trade in Sheffield School Project
HICL Infrastructure is buying a 19% stake in Sheffield Building Schools for the Future project and a 50% stake in Oldham Library PFI project. The Sheffield stake was sold by International Public Partnerships for £3.2m which implies that HICL paid £1.9m for the Oldham deal. INPP said the Sheffield deal was transacted at a price “in excess of the price paid by the Company on acquisition in August 2011” and “a premium to the 8-9% internal rate of return target of the Company.” They also say “The ability to transact at these levels provides a continuing indication of the demand for assets in the secondary market”.