HICL Infrastructure to sell two PPP projects for £52m – HICL Infrastructure PLC, the parent company of HICL Infrastructure (HIC), has announced that the group has struck a deal to sell its entire equity and debt interests in two UK PPP projects: the Health & Safety Laboratory in Buxton; and the South West Acute Hospital in Enniskillen.
The sales are expected to be worth around £52m in total and should be completed by the end of this calendar year.
The company expects to use the funds generated towards new projects, including previously announced Offshore Transmission Owners (OFTOs), which it says are are currently at the preferred bidder stage.
Discussing this morning’s announcement, Harry Seekings, co-head of infrastructure at InfraRed Capital Partners Limited (HICL’s manager), said: “Over the past 18 months, we have used selective disposals to crystallise value for HICL’s shareholders, recycling almost 7% of portfolio value into more attractive investments.”
HICL: HICL Infrastructure to sell two PPP projects for £52m