Last checked at 
28 Jul 2014 07:00
28 July 2014
INPP divests its stake in French PPP investment
International Public Partnerships Limited (INPP) is pleased to announce the disposal of its holding in Medicast SAS - the Amiens hospital PPP project ('Amiens') in France.
The sale was conducted on an opportunistic basis following an unsolicited offer for the investment from a boutique French asset management company specialising in PPP asset management and origination, Atlante Gestion. INPP's 95% interest in the equity and subordinated debt behind Amiens was purchased by Atlante Property Management for a premium to the Company's valuation for the project.
INPP determined that the Amiens investment was subscale in the context of its broader portfolio, representing less than 0.05% of the Company's Net Asset Value (as at 31 December 2013).
INPP expects to re-invest the proceeds from the sale in the current pipeline of new infrastructure opportunities being developed by the Company and its investment adviser.
Chairman of INPP, Mr. Rupert Dorey, added: "The divestment of Amiens highlights the continuing investor demand for high-grade PPP assets across Europe. The willingness to optimise INPP's portfolio for our investors means we can capitalise on such appropriate divestment opportunities as they arise."
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039FTI Consulting
Notes to Editors:
About International Public Partnerships (INPP):
International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP), private finance initiative (PFI), regulated asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 114 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists over 70 dedicated staff who manage, advise on and originate projects for INPP.
Visit the INPP website at www.internationalpublicpartnerships.com for more information.