Carillion Sells Stake In Queen Alexandra Hospital For GBP31.3M

30th Jun 2010 16:21

LONDON (Dow Jones)--Carillion Plc (CLLN.LN), a support services company, announced Wednesday it sold its investment in the Queen Alexandra Hospital Public Private Partnership project to HSBC Infrastructure Company Limited (HSBA.LN) for a total cash consideration of GBP31.3 million. MAIN FACTS: -At Dec. 31, 2009, the combined value of the assets in Carillion's balance sheet that are the subject of the transaction was GBP1.1 million. -Since that date, Carillion has also made further investments in these assets. -The total combined pre-tax loss attributable to these assets was GBP0.6 million in 2009. -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. -Shares at 1520 GMT down 0.2 pence, or 0.06%, at 309 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires June 30, 2010 11:21 ET (15:21 GMT)