HICL Infrastructure ups stake in Sussex police project

HICL Infrastructure Company has acquired the remaining 10.1 per cent equity interest in the Sussex Police Authority Custody Centre's PFI Project.

The project includes four new custody centres in Sussex for the Sussex Police Authority over a 30-year concession, due for completion on November 2032.

The infrastructure investor now has 100% total equity and loan note interest in the project following the transaction with Reliance Sussex PFI.

HICL paid £0.53m in total consideration for the acquisition, which was funded by the group's existing cash resources.

The company also announced the formal Completion of the Works certificate has been issued on the M80 Motorway DBFO Project.

HICL, which was the first infrastructure investment company to be listed on the London Stock Exchange, has a portfolio of 78 investments and a market capitalisation of £1,170.45m.

RD