Additional Investment in Alberta Schools
4 April 2013
Additional Investment in Alberta Schools
International Public Partnerships Limited (INPP), the FTSE 250 listed infrastructure investment company, is pleased to announce that it has acquired the remaining 25% interest in the Alberta Schools project in Canada that it does not already own
INPP, as the existing owner of 75% of the share capital in BBPP Alberta Schools Limited, has signed an agreement with GVest GP Inc. pursuant to which it has acquired the remaining 25% interest for approximately £7.5 million.
The project is an availability based PPP project consisting of 18 schools, 9 in Edmonton and 9 in Calgary, under an agreement with 27 years remaining with the Province of Alberta.
INPP has been an investor in the project since inception having overseen the design, construction, maintenance and renewal of the schools as well as the provision of private sector finance. Financial close on the original investment occurred in September 2008 and construction completion of all 18 schools was achieved by June 2010, one month ahead of schedule.
The investment has been performing well and the additional investment is expected to be accretive to the overall portfolio.
For further information:
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Amber Infrastructure Erica Sibree |
+44 (0)20 7939 0558
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Numis Securities Hugh Jonathan/Nick Westlake |
+44 (0)20 7260 1263/1345
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FTI Consulting Ed Berry/Harry Stein |
+44 (0)20 7269 7297/7141
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Notes to Editors:
About International Public Partnerships:
International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP), private finance initiative (PFI), regulated asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 122 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.
Amber Fund Management Limited is the Investment Advisor to INPP and consists of approximately 80 dedicated staff who manage, advise on and originate projects for INPP.
Visit the INPP website at www.internationalpublicpartnerships.com for more information.
This information is provided by RNS
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