HICL acquires further incremental investments for £8.1m

15th Jan 2015 09:06

Infrastructure investment company HICL Infrastructure has acquired further equity interests in two of its existing projects for £8.1m.The company bought 50% of the share capital and all of the remaining loan notes in the Willesden Hospital PFI Project, a 32-year concession for the design, construction, financing, maintenance and operation of a community hospital in North London.The company added that completion of the acquisition of £0.7m of the loan notes is deferred until 2019.HICL has also acquired 15% of the share capital in the Barking and Dagenham Schools PFI Project, a 27-year concession for the design, construction, financing, maintenance and operation of two new secondary schools in East London.Upon completion of the acquisitions, the group will hold 100% of the equity interests in each of the projects."Both projects have performed well over recent years and we are pleased to be able to continue the strategy of increasing the Group's ownership of existing projects when suitable opportunities arise," said group's David Foot, infrastructure director at InfraRed Capital Partners.