(Alliance News) - International Public Partnerships Ltd said on Thursday that it has acquired a small portfolio of UK public-private partnership investments for GBP3.1 million.
The London-based infrastructure investment company said the portfolio was made up of interests in two community hospitals in Oxfordshire and south east London, plus minority interests in the Building Schools for the Future projects in South Tyneside.
The interest were acquired from the company's investment adviser, Amber Infrastructure Ltd and were independently valued by Newbridge Advisors LLP.
Investment in minority interests in a further five BSF schemes from the same portfolio will be made in the coming months, International Public Partnerships added. This will represent up to GBP3.0 million of additional investment.
International Public Partnerships will acquire a 100% interest in the equity and debt of the Oxfordshire hospital project, a 50% interest in the debt of the London hospital project, and an 8% interest in the debt of the South Tyneside projects along with a 4% interest in their equity.
Following the close of the portfolio acquisition, International Public Partnerships will be approximately GBP163 million drawn against its GBP250 million corporate debt facility, including GBP9 million through a letter of credit to support its investment in the Flinders University Health and Medical Research Building.
Shares in International Public Partnerships were up 0.2% at 168.37 pence on Thursday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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International Public Partnerships (INPP)