HICL buys additional stake in
HSBC Infrastructure Company Limited
11 February 2009
HSBC Infrastructure Company Ltd buys additional stake in Barnet Hospital for £1.7 million
HSBC Infrastructure Company Limited (the 'Company'), the listed infrastructure investment company, announces the completion of the acquisition of additional equity in the Barnet Hospital PFI Project.
Under the terms of the acquisition, the Company has purchased the 19% equity stake held by a subsidiary of Bouygues UK and Ecovert FM in the Barnet Hospital PFI project for a consideration of £1.7 million, paid in cash from existing resources.
The Company has thereby increased its equity interest in the project from 81% to 100%. The Barnet Hospital PFI project is a long term concession to design, construct, operate and maintain the re-building of Barnet General Hospital in North London. Ecovert FM, a Bouygues Construction subsidiary, will continue to provide the facilities management services for the project. The project has been operational since April 2000.
This acquisition brings to twelve the number of incremental acquisitions undertaken by the Company since launch and increases the number of subsidiary investments from seven to eight.
Tony Roper, Director, HSBC Specialist Fund Management Limited, the Company's Investment Adviser, said: 'We are delighted to announce this acquisition, which supports the Company's strategy of acquiring additional investments when suitable opportunities arise.'
For further information, please contact:
HSBC Specialist Fund Management Limited +44 (0) 20 7991 8888
Tony Roper
Keith Pickard
Sandra Lowe
Dexion Capital (Guernsey) Limited +44 (0) 1481 743945
Carol Kilby
M: Communications +44 (0) 20 7153 1530
Ed Orlebar
Tilly von Twickel
Notes
HSBC Infrastructure Company Limited
The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. It currently owns a portfolio of 28 infrastructure projects, all operational, and is seeking further suitable investment opportunities which fit its Investment Policy.
Further details of the Company can be found from its web site www.hicl.hsbc.com
The Investment Adviser to the Company is HSBC Specialist Fund Management Limited, whose infrastructure investment team has successfully invested in infrastructure projects since 1997 and which is part of HSBC Specialist Investments, the infrastructure and real estate investment arm of the HSBC Group. HSBC Specialist Fund Management Limited is authorised and regulated by the Financial Services Authority.
This information is provided by RNS
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