1st Jul 2015 14:21
LONDON (Alliance News) - International Public Partnerships Ltd Wednesday said it has taken full control of the Liverpool Central Library Project from Shepherd Construction, acquiring a further 19.9% interest for about GBP1.9 million.
International Public Partnerships acted as lead sponsor and manager for the GBP50 million project.
The project involved the refurbishment of three existing historic library buildings. The library opened to the public in May.
International Public Partnerships is paying the GBP1.9 million with existing cash resources.
"The transaction is further evidence of the value within the company's portfolio of the pre-emptive positions held over existing assets," Chairman Rupert Dorey said in a statement.
International Public Partnerships shares were down 0.1% at 135.60p on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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