News / HICL Infrastructure acquires 50 % stake in Tameside General Hospital PFI

HICL Infrastructure acquires 50 % stake in Tameside General Hospital PFI

🕔 May 7, 2013
Starwood Energy raises US$854 million for new infrastructure fund

HICL Infrastructure Company has announced that the Group has completed the acquisition of a 50% equity and loan note interest in the Tameside General Hospital PFI Project from Balfour Beatty Infrastructure Investments Limited for £16.0 million.

The Project is a £78m PFI scheme procured by the Tameside Hospital NHS Foundation Trust to design, construct and commission new-build facilities and associated site infrastructure. The Project reached financial close in September 2007 and is for a term of c. 34 years. Construction of the new facilities was completed on time and on budget by Balfour Beatty.

The works entailed the construction of a new energy center; a new elderly mental and infirm unit; a new Diagnostics and Treatment Centre (DTC); an elevated link bridge between the new DTC and an existing hospital building; a new surface car park; and service infrastructure works. Balfour Beatty WorkPlace is providing hard facilities management services to the Project.

The consideration paid by the Group is in line with the current valuations of similar UK PFI projects in the Group's portfolio and brings the total number of infrastructure investments in the portfolio to 82. The acquisition was funded from the Group's existing cash resources.

InfraRed Capital Partners, HICL's Investment Adviser, has worked with Balfour Beatty on a number of infrastructure projects in the UK.

Source: HICL InfrastructureRelated news:

League Tables

InfraPPP accepts project & transaction submissions to ensure that the data we have in our databases is accurate.

Download Submission Form  Download Submission Form


Subscribe to our newsletter and get in your inbox jobs, news and business opportunities.

Oman Power & Water Procurement Company
The Africa Energy Forum (AEF MAURITIUS)
Spring Special Sidebar

Follow us on Twitter