HICL Infrastructure PLC Incremental Acquisition (5484T)
21 Julio 2020 - 1:00AM
UK Regulatory
TIDMHICL
RNS Number : 5484T
HICL Infrastructure PLC
21 July 2020
21 July 2020
HICL Infrastructure PLC
"HICL" or "the Company" and, together with its subsidiaries,
"the Group", the London-listed infrastructure investment company
managed by InfraRed Capital Partners Limited ("InfraRed" or "the
Investment Manager").
Incremental Acquisition
HICL is pleased to announce that it has agreed to acquire the
remaining 50% interest in the M17/M18 Gort to Tuam Road PPP in the
Republic of Ireland (the "Project") from the Marguerite I Fund. The
consideration is EUR41m and the transaction is expected to complete
by the end of September.
The Project is a 28-year road concession to design, finance,
construct and maintain a new 57km dual carriageway section of the
M17/M18 between Gort and Tuam in County Galway on the west coast of
Ireland. The client is Transport Infrastructure Ireland.
Construction works were completed in December 2017. The project is
operational and receives availability revenue payments, not
dependent on usage of the road. HICL acquired an initial 10%
interest in the Project at financial close in 2014, and an
additional 40% interest in 2019. With completion of this
incremental investment, HICL will hold a 100% interest.
Harry Seekings, Co-Head of Infrastructure at InfraRed said:
"We are delighted that HICL is taking full ownership of the
M17/M18 road PPP, a project that has improved connectivity between
airports in the west of Ireland. The acquisition exemplifies HICL's
strategy of increasing its stakes in known, high quality core
infrastructure assets that deliver essential services and long-term
returns. The investment is expected to be accretive to portfolio
yield and will provide further geographical diversification to
HICL's exposure to availability-based transportation projects
."
-ends-
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800 / info@hicl.com
Harry Seekings
Keith Pickard
Edward Hunt
Kirsty MacCallum
Teneo +44 (0) 7342 031051 / HICL@teneo.com
George Hutchinson
Haya Herbert-Burns
Investec Bank plc +44(0) 20 7597 4952
David Yovichic
RBC Capital Markets +44 (0) 20 7653 4000
Darrell Uden
Aztec Financial Services (UK) Limited +44(0) 203 818 0246
Chris Copperwaite
Sarah Felmingham
HICL Infrastructure PLC
HICL Infrastructure PLC ("HICL" or the "Company", and together
with its subsidiaries the "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 over 100 infrastructure investments,
HICL is seeking further suitable opportunities, which are
positioned at the lower end of the risk spectrum within core
infrastructure.
Further details can be found on the HICL website www.hicl.com
.
Investment Manager (InfraRed Capital Partners)
The Investment Manager 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 190 professionals it manages
in excess of US$12bn 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 over
90 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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END
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