Last checked at 16 Feb 2012 07:00
16 February 2012
Morgan Sindall Group plc
Sale of interest in the Dorset Fire & Rescue PFI Project
Morgan Sindall Group plc announces today that its Investments division, Morgan Sindall Investments Limited (MSIL), has sold its 33.5% interest in the Dorset Fire & Rescue PFI Project to HICL Infrastructure Company Limited.
MSIL has held the 33.5% holding since its inception in 2007, when the project commenced. The construction phase of the project was completed in 2009.
The disposal is in line with our strategy to realise investments as they mature on completion of construction in order to recycle capital into new projects. The total consideration received is £3.8m in cash, above the directors' current valuation of the investment.
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Notes to Editors:
Morgan Sindall Group
Morgan Sindall Group plc is a leading UK construction and regeneration group with revenue of over £2 billion and which operates through five divisions of construction and infrastructure, affordable housing, fit out, urban regeneration and investments.
ENQUIRIES:
Morgan Sindall Group plc Tel: 020 7307 9200
Paul Smith, Chief Executive
David Mulligan, Finance Director
Brunswick Tel: 0207 404 5959
Nina Coad