17th Jul 2015 07:09
LONDON (Alliance News) - HICL Infrastructure Co Ltd on Friday said it has agreed a deal to acquire a 99.9% interest in the Royal Canadian Mounted Police 'E' Division Headquarters P3 Project in Surrey in British Columbia, Canada for CAD53 million.
It is acquiring the project from the InfraRed Infrastructure Fund III, which is managed by its investment adviser, InfraRed Capital Partners. As a result, HICL is calling an extraordinary general meeting for shareholders to vote on approving the deal.
"This acquisition fits within the company's investment strategy and helps diversify the current portfolio further by geography. The board unanimously recommends that shareholders vote in favour, as all of the directors intend to do in respect of their own beneficial holdings of ordinary shares," said Chairman Graham Picken.
HICL shares were down 0.3% to 152.912 pence in early trade on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
HICL Infrastructure