18th Dec 2007 07:00
Carillion PLC18 December 2007 18 December 2007 Carillion agrees sale of equity in Public Private Partnership (PPP) projects Support services and construction company, Carillion plc, has agreed terms tosell its equity holdings in three fully operational Public Private Partnershipprojects to a secondary market fund, Land Securities Trillium. The sales are expected to generate cash proceeds of £21.5 million and anexceptional profit of a broadly equal amount. Following the equity sale, Carillion will have 22 financially closed projects inwhich it has invested, or has commitments to invest, a total of £171 million. Carillion also has a strong pipeline of preferred bidder and shortlistedprojects, which together have a potential equity requirement of up to £93million, in addition to the £171 million already invested in, or committed to,financially closed projects. Beyond that there are continuing opportunities forCarillion to grow its PPP investment portfolio in the UK and Canada, which havemajor PPP programmes in Carillion's key market sectors. Subject to satisfying certain conditions attendant on these sales, thetransactions are expected to be completed by the end of December. Note to editors The three projects in which Carillion is selling its equity holdings are theGreat Western Hospital, Swindon, Harplands Hospital, North Staffordshire andGlasgow Southern General Hospital (Langlands). Details of these projects can befound on Carillion's website at www.carillionplc.com/privatefinance Carillion is one of the UK's leading support services, construction and PublicPrivate Partnership project companies. The Group has annual revenue of around£4bn, employs over 40,000 people and operates across the UK, in the Middle East,Canada and the Caribbean. In the UK, Carillion has eight principal market sectors - Defence, Education,Health, Building, Facilities Management and Services, Roads, Rail and CivilEngineering. In the Middle East, the Group's two principal market sectors are Constructionand Facilities Management. In Canada and the Caribbean, the Group's main sectorsare Health, Roads Maintenance and Construction. The Group is a leader in Public Private Partnership projects, particularly inthe Defence, Education and Health sectors in the UK and in the Health sector inCanada. This and other news releases relating to the Group can be found atwww.carillionplc.com. For further information on Carillion:John Denning, Director Group Corporate Affairs, Carillion plc 01902 316426 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Carillion Plc