1st Apr 2015 08:59
LONDON (Alliance News) - HICL Infrastructure Co Ltd Wednesday said it has made an EUR11.5 million investment in the Zaanstad Penitentiary Institution public-private partnership project in the Netherlands and has acquired a further stake in the Newham Building Schools for the Future project in the UK.
HICL said it has acquired a 75% stake in the Zaanstad project for EUR11.5 million from a subsidiary of Ballast Nedam BV. The project will involve the construction and 25-year operation of a new prison in the Netherlands and is set to be operational in 2016.
HICL has also completed the acquisition of a further 12% equity and loan note interest in the Newham Building Schools for the Future project from RM PLC for GBP1.6 million. It brings its total interest in the project to 80%.
"We are delighted to have completed these acquisitions, in particular the project from Ballast Nedam, which represents HICL's second investment in Holland," said Tony Roper, director of InfraRed Capital Partners Ltd, the manager of the HICL vehicle.
HICL shares were up 0.1% to 156.696 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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