6th Dec 2006 07:01
HSBC Infrastructure Company Limited06 December 2006 HSBC Infrastructure Company Buys 40% Stake in Three Scottish Schools for £5.5m HSBC Infrastructure Company Limited ("HICL"), the listed infrastructureinvestment company, announces today it has completed the acquisition of a 40%stake in Pinnacle Schools for £5.5 million. The three schools were built as a PFI Project for Fife Council by Sir RobertMcAlpine and are being operated by Sodexho. In addition to the equity interest HICL is also acquiring a 40% loan noteinterest and 100% Junior loan interest in the Pinnacle Schools project, whichare included in the consideration. Tony Roper, Director, HSBC Specialist Fund Management Limited, HICL's InvestmentAdviser, said: "This acquisition is in keeping with our strategy of expandingthe portfolio by acquiring well managed infrastructure assets with predictableincome streams." Enquiries M:Communications +44 (0)20 7153 1523Ed Orlebar HSBC Infrastructure Company Limited The Company is the first infrastructure investment company to be listed on theLondon Stock Exchange, and is seeking to deliver long term sustainabledividends at levels that exceed current UK and other European government bondyields, by investing in infrastructure projects. Following the listing on the London Stock Exchange, the initial portfolio of 15projects has been acquired by the Company and further investment opportunitiesare being sought. The portfolio now comprises 16 investments. The investment adviser to the Company is HSBC Specialist Fund ManagementLimited, whose infrastructure investment team has successfully invested ininfrastructure projects since 1997. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HICL Infrastructure