Carillion gets £31.3m for hospital stake sale

30th Jun 2010 16:30

Carillion has offloaded its investment in the Queen Alexandra Hospital Public Private Partnership project to HSBC Infrastructure Company Limited for £31.3m in cash.At the end of last year the assets in Carillion's balance sheet that are the subject of the transaction was £1.1m, although further investment has been made since then.The company, which built the hospital in Portsmouth, said the total combined pre-tax loss attributable to these assets was £0.6m last year."This disposal is in line with Carillion's policy of recycling equity in its investments in Public Private Partnership projects, from projects on which construction is complete into new projects," it said Wednesday.Carillion will continue to provide facilities management services to the hospital under its current 35 year contract.