12th Mar 2015 09:55
LONDON (Alliance News) - HICL Infrastructure Co Ltd Thursday said it has acquired stakes in three Building Schools for the Future projects from construction company Laing O'Rourke for a total of GBP26.4 million.
HICL has acquired a 40% stake in the Salford & Wigan Phase 1 project, a 40% stake in the Salford & Wigan Phase 2 project and a 68% stake in the Newham Schools project.
"We are delighted to have completed the acquisition of these fully operational schools projects from Laing O'Rourke and we look forward to developing our relationship with Laing O'Rourke with a view to sourcing additional investment opportunities for the Group," said James O'Halloran, Investment Director with InfraRed Capital Partners Ltd, the investment manager for HICL.
Shares in HICL were up 0.3% to 156.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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