HICL Infrastructure Regulatory News (HICL)

4 Aug 2006 09:26

HICL Increases Stakes in 4 Projects for ‚£4.6 MillionHSBC Infrastructure Company Limited ("HICL"), the listed infrastructureinvestment company, announces today two transactions for an aggregateconsideration of ‚£4.6m, payable in cash from existing resources.Barnet HospitalA subsidiary of HICL has acquired the 11% equity and subordinated debt interestheld by Barnet Hospital Project Limited ("BHP", a subsidiary of Bouygues) inthe Barnet Hospital project, thereby increasing its stake from 30% to 41%. TheBarnet Hospital project is a long term concession to design, construct, operateand maintain the re-building of Barnet General Hospital in North London. Theproject has been operational since April 2000. BHP retains a 19% stake in theproject.Enterprise ProjectsA subsidiary of HICL has acquired the 10% equity and loanstock interests fromAlfred McAlpine in the Conwy Schools, Exeter Courts and Stoke MandevilleHospital projects. The projects are concessions to design, construct, operateand maintain 3 schools in North Wales, a crown and county court in Exeter and ahospital facility for the Buckingham Hospitals NHS Trust respectively. Theacquisition takes HICL's stake in each of these three projects from 80% to 90%.Tony Roper, Director, HSBC Specialist Fund Management Limited, HICL'sInvestment Adviser, said: "We are delighted to announce these bolt-onacquisitions, which support HICL's strategy of expanding through carefullyselected acquisitions of infrastructure investments."EnquiriesM:Communications +44 (0)20 7153 1523Ed OrlebarAndre Le PrevostKleinwort Benson (Channel Islands) Fund Services LimitedCompany Secretary01481 727111NotesHSBC Infrastructure Company LimitedThe Company is the first infrastructure investment company to be listed on theLondon Stock Exchange, and is seeking to deliver long-term sustainabledividends at levels that exceed current UK and other European government bondyields, by investing in infrastructure projects.Following the listing on the London Stock Exchange, the initial portfolio of 15projects has been acquired by the Company and further investment opportunitiesare being sought.The investment adviser to the Company is HSBC Specialist Fund ManagementLimited, whose infrastructure investment team has successfully invested ininfrastructure projects since 1997.G:\Users\UNITTR\Corporate Secretariat\HSBC Infrastructure Company Limited\Announcements\Acquistion rns 280706 final.docENDHSBC INFRASTRUCTURE COMPANY LTD