23rd Dec 2021 19:11
HICL Infrastructure PLC - a long-term investor in infrastructure assets managed by InfraRed Capital Partners - Agrees to acquire a further 25% interest in Road Management Group.
RMG is a holding company which comprises two UK shadow toll roads: the A417/A419 Swindon-Gloucester and the A1(M) Alconbury-Peterborough.
The interest is being acquired from KBR Inc for consideration of up to GBP25 million and is expected to complete in the first quarter of 2022. The investment will be funded by HICL's revolving credit facility. Following the completion of this acquisition, HICL will hold a 58.3% interest in RMG.
"This acquisition aligns with HICL's strategy to continue to source incremental investment opportunities via off-market arrangements in well-known, high-quality core infrastructure assets, and is accretive to key portfolio metrics," company says.
Current stock price: 174.86 pence
Year-to-date change: up 0.5%
By Paul McGowan; [email protected]
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