HICL Infrastructure Company Ld Completion of Acquisition (8734P)

TIDMHICL

RNS Number : 8734P

HICL Infrastructure Company Ld

23 November 2016

23 November 2016

HICL Infrastructure Company Limited

Completion of Acquisition

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 GBP22.7m. 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%.

The consideration paid for the Portfolio was funded from existing cash resources. The Company currently has a funding surplus of approximately GBP11m.

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Enquiries

   InfraRed Capital Partners Limited                            [phone] 

Tony Roper

Keith Pickard

Harry Seekings

   Tulchan Communications                                            [phone] 

David Allchurch

Latika Shah

   Canaccord Genuity Limited                                         [phone] 

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "HICL Group") is a long term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. With a current portfolio of 112 infrastructure investments (including one commitment with limited conditions to completion), HICL is seeking further suitable opportunities, which are positioned at the lower end of the risk spectrum, in three target markets segments: PPPs; regulated assets; and demand-based assets.

Further details can be found on the HICL website, www.hicl.com.

Investment Adviser

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 160 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With over 120 professionals it manages in excess of USD 9bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of 60 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

Further details can be found on InfraRed's website, www.ircp.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 23, 2016 02:00 ET (07:00 GMT)