1st Feb 2006 16:29
Morgan Sindall PLC01 February 2006 Morgan Sindall plc ("Morgan Sindall" or "the Group") Primary Medical Property shareholding transaction Morgan Sindall today announces a transaction in relation to Primary MedicalProperty Limited ("PMP"), in which the Group previously had a 47.5%shareholding. PMP undertakes the development and management of specialisthealthcare property for retention as investments. Initially, the Group purchased the remaining 52.5% shareholding in PMP fromcertain private individuals. Subsequently, the Group has agreed to dispose of50% of its interest by way of entering into a 50-50 owned joint ventureagreement with a fund managed by Barclays Private Equity. For the year ended 31 December 2004, based on the most recent audited accounts,PMP had gross assets of £60.4 million. Paul Smith, Chief Executive of Morgan Sindall said: "This deal facilitates the further development of our business in the healthsector and provides exciting new opportunities for growth in the area of primarycare." 1 February 2006Enquiries: Morgan Sindall plc Tel: 020 7307 9200Paul Smith, Chief ExecutiveDavid Mulligan, Finance Director College Hill Tel: 020 7457 2020Alex WaltersMatthew Smallwood This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Morgan Sindall Group