Last checked at 
30 Apr 2013 09:53
30 April 2013
HICL Infrastructure Company Limited
Acquisition of two new investments for £9.8m
HICL Infrastructure Company Limited (the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition of a 60% equity and loan note interest in two further LIFT Companies ("LIFTCos"), the Medway LIFTCo and the Redbridge & Waltham Forest LIFTCo which have together successfully developed seven new primary care facilities with a total development cost of approximately £50m.
The total consideration paid by the Group for the two LIFTCos was £9.8m which is in line with the current valuation of other similar projects in the Group's portfolio and brings the total number of infrastructure investments within the Group's portfolio to 81.
The acquisition was funded from the Group's existing cash resources.
David Foot, Director, Infrastructure, InfraRed Capital Partners Limited (HICL's Investment Adviser) said:
"We are pleased to become the private sector partner in two further LIFTCos adding to our existing interests in the Birmingham & Solihull LIFTCo and the Staffordshire LIFTCo. We look forward to working with our public-sector partners to continue to provide new and improved health and social care facilities within the Medway and Redbridge & Waltham Forest areas"
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Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Tony Roper
Keith Pickard
David Foot
Robin Hubbard
Tulchan Communications +44 (0) 20 7353 4200
Ed Orlebar
Rebecca Scott
Canaccord Genuity +44 (0) 20 7523 8000
Dominic Waters
Neil Brierley
Will Barnett
Robbie Robertson
David Yovichic
HICL Infrastructure Company Limited
The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. It currently owns a portfolio of 81 social and transportation infrastructure investments and is seeking further suitable investment opportunities which fit its stated Investment Strategy.
Further details of the Company can be found on its website www.hicl.com.
Investment Adviser
The Investment Adviser to the Company is InfraRed Capital Partners Limited, whose infrastructure investment team has successfully invested in infrastructure projects since 1997.
InfraRed Capital Partners Limited is authorised and regulated by the Financial Conduct Authority.