HICL Infrastructure Regulatory News (HICL)

17 Aug 2007 07:00

HSBC Infrastructure Company Limited17 August 2007 17 August 2007 HICL Buys 50% Stake in Four Police Assets from Allianz Unit for £36.5 million HSBC Infrastructure Company Limited ("HICL"), the listed infrastructureinvestment company, announces today it has completed the acquisition of a 50%interest in four police PFI projects from a subsidiary of Allianz SE for £36.5million, payable in cash from existing resources and debt facilities. The four police projects are • Metropolitan Police Specialist Training Centre - a firearms and public order training facility in Gravesend, Kent • South East London Police Stations - 5 police station buildings for the Metropolitan Police Authority (London), in Deptford, Lewisham, Bromley and Sutton • Greater Manchester Police Stations - 17 police station buildings on 16 sites around Greater Manchester • Durham & Cleveland Firearms Training Centre - a firearms and tactical training centre at Urlay Nook on the outskirts of Stockton, North England The first three projects were built as PFI projects by Laing O'Rourke and arebeing operated by Equion FM, the facilities management division of John Laing.The Durham & Cleveland Firearms Training Centre was built by Barr, the Scottishconstruction company, and is also operated by Equion FM. All projects areoperational. Tony Roper, Director, HSBC Specialist Fund Management Limited, HICL's InvestmentAdviser, said: "I am delighted to acquire these quality assets which I am veryfamiliar with from my time with John Laing. This acquisition, HICL's largest todate, is in keeping with our strategy of expanding HICL's portfolio withsuitable new infrastructure assets." M:Communications: Ed Orlebar +44 (0)20 7153 1523Tilly von Twickel +44 (0)20 71531541 HSBC Infrastructure Company Limited The Company is a long term investor in infrastructure projects which arepredominantly in their operating phase and yielding steady returns. It was thefirst infrastructure investment company to be listed on the London StockExchange. It manages a portfolio of mostly operational infrastructure projectsand seeks to acquire further investment opportunities. The Investment Adviser to the Company is HSBC Specialist Fund ManagementLimited, whose infrastructure investment team has successfully invested ininfrastructure projects since 1997 and which is part of HSBC SpecialistInvestments, the infrastructure and real estate investment arm of the HSBCGroup. This information is provided by RNS The company news service from the London Stock Exchange