26th Feb 2013 13:30
26 February 2013
Sweett Group plc
("Sweett Group" or "the Group")
Sale of interest in Dumfries & Galloway PFI project
Sweett Group, the international property and infrastructure consultancy, has concluded the sale of its investment in 15% of the unsecured loan notes 2039 in the Dumfries & Galloway PFI project to Infrastructure Intermediaries No 1 Limited.
The transaction has been achieved via the sale of Cyril Sweett Investments Limited, whose only asset at completion was the loan notes. The consideration, £2.25m in cash, was paid in full on completion and will be used to reduce bank borrowings and for working capital requirements.
This sale is part of Sweett Group's wider programme to reduce its investments in PFI and PPP projects. The trade and other remaining assets of Cyril Sweett Investments Limited remain within the Group.
- Ends -
For further information:
Sweett Group plc | +44 20 7061 9000 |
Dean Webster, Chief Executive Officer Chris Goscomb, Chief Financial Officer Theo Kjellberg, Group Communications Manager | |
Westhouse Securities Limited | +44 20 7601 6100 |
Tom Griffiths Paul Gillam | |
FTI Consulting | +44 20 7831 3113 |
Billy Clegg Oliver Winters |
About Sweett Group
Sweett Group plc is a global business with expertise in property and infrastructure professional services. Our services include programme and project management, cost management, advisory and PPP/PFI investment.
We aim to forge long term, successful relationships with all stakeholders in the property and infrastructure industry. "Global knowhow, local delivery" is the essence of our business and our reach enables us to put global best practice to use in the local markets we serve.
www.sweettgroup.com
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