14th Nov 2013 13:44
LONDON (Alliance News) - International Public Partnerships Limited (INPP) Thursday said its portfolio of 122 public infrastructure investments continues to perform in line with expectations as its net asset value continues to grow.
In an interim management statement for the period July 1 to November 13, the company said it acquired the remaining 25% stake it did not own in the Diabolo rail link project from a subsidiary of HSH Nordbank for EUR33.3 million.
The company bought its existing 75% stake in the railway project serving Brussels National Airport in 2007.
"The project has a high degree of linkage to the inflation rate in Belgium and, all things being equal, this should increase the expected return for any inflation running above the assumed rate," the company said.
In June the firm reported a net asset value per share of 121.5 pence up from 121.0 pence in December 2012. Since then the company's net asset value has increased, it said.
Financially, INPPL said it had approximately GBP77 million of cash available for investment. In addition, it has GBP100 million of capacity within its corporate debt facility available for re-draw, representing 100% of the facility.
The stock was trading at down 0.9% at 126.93 pence Thursday afternoon.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
International Public Partnerships