HSBC Infrastructure buys schools stake

Infrastructure investment company HSBC Infrastructure has acquired a 30% stake in the Renfrewshire Schools project from Carillion.HSBC Infrastructure (HICL) has paid £6.8m for the stake, a price which the company said is in line with the current valuation range of similar private finance initiative (PFI) investments in its portfolio.The project comprises ten primary and secondary schools in Renfrewshire built by Carillion.A subsidiary of Amey operates the schools under a long-term services agreement. Amey Ventures Investment Ltd, a subsidiary of Amey plc, and an infrastructure fund managed by the Bank of Scotland are both 35% co-shareholders in the project.“I am pleased to have acquired this high quality asset which has a good operational track record,” said Tony Roper, HICL’s investment adviser. HICL Infrastructure