Completion of Acquisition

RNS Number : 7770U

HICL Infrastructure Company Ld

23 January 2017

 

23 January 2017

HICL Infrastructure Company Limited

Completion of Acquisition

HICL Infrastructure Company Limited ("HICL" or the "Company"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), is pleased to announce that it has completed the acquisition of a 13.8% interest in the A63 motorway project (the "Project") from ColasSud Ouest and Spie Batignolles.

The Company has previously communicated to investors that it had entered into an agreement with the vendors to purchase the interest, subject to limited conditions to completion.  Those conditions have been met and the consideration of €87m has been paid.

The Project is a 40-year toll-road concession to design, build, finance, operate and maintain an upgraded 104km section of the A63 highway between Salles and Saint-Geours-de-Maremne, in southwest France.  Phase 1 of the works was successfully delivered in April 2013, five months ahead of plan.  Phase 2 was completed in November 2013, seven months ahead of plan.  The Project's senior debt was refinanced with long-term debt in June 2015.

The Company announced on 12 January 2017 that it envisages publishing a prospectus in February and proceeding with a Placing, Open Offer and Offer for Subscription of Ordinary Shares (the "Issue") during the first quarter of this year.  Further details as to the precise timing and quantum of the Issue will be announced in due course.

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Enquiries

InfraRed Capital Partners Limited                            [phone]

Tony Roper
Keith Pickard
Harry Seekings

Tulchan Communications                                            [phone]

David Allchurch
Latika Shah

Canaccord Genuity Limited                                         [phone]

Dominic Waters
Neil Brierley
Will Barnett
David Yovichic

HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "HICL Group") is a long term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. With a current portfolio of 114 infrastructure investments (including the Northwest Parkway commitment with limited conditions to completion), HICL is seeking further suitable opportunities, which are positioned at the lower end of the risk spectrum across three target markets segments: PPPs; regulated assets; and demand-based assets.

Further details can be found on the HICL website, www.hicl.com.

Investment Adviser

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With over 120 professionals it manages in excess of USD 9bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of 60 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed's website, www.ircp.com.

 

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