12th Aug 2020 09:57
(Alliance News) - International Public Partnerships Ltd on Wednesday said it has taken a larger stake in a set of school building projects in the UK.
INPP said it has acquired an additional interest in Building Schools for the Future projects in Bradford in West Yorkshire and in the London borough of Lewisham.
The FTSE 250 listed infrastructure investment company will commit a further about GBP3.6 million to the six schemes. After the latest investment, INPP will hold a 54% stake in three of the Lewisham BSF schemes and 45% in the fourth, as well as a 16% and 19% investment in the phase one and phase two of the two Bradford schemes.
The investment adds to the company's existing commitment of over GBP200 million to develop and refurbish over 200 individual schools across the UK as part of the broader BSF programme.
Chair Mike Gerrard said: "We are very pleased to make this further investment into the Bradford and Lewisham BSF projects, building on the company's existing stakes in these UK schools."
International Public Partnerships shares were up 0.2% at 166.11 pence each on Tuesday morning in London.
By Greg Roxburgh; [email protected]
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