HICL Infrastructure Company has sold its 50 per cent equity and loan note interest in Doncaster Schools PFI (private finance initiative) project to Vinci Pensions, an affiliate of the co-shareholder Vinci.
The group will earn £5.3m from the sale, which represents a small profit on the acquisition price in December 2011. The disposal follows a review to evaluate the possible opportunities for portfolio rationalisation.
Graham Picken, Chairman of the company said: "With a growing portfolio of investments, some of which have been acquired as part of multi-asset transactions, as in the case of Doncaster Schools, the company will from time to time divest certain projects in order to optimise portfolio performance."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
NR
-
Are the wealthy dodging more tax than previously thought?A new report suggests tax non-compliance among the wealthy could be worse than previously imagined. Is an overly complex system partly to blame?
-
Six out of 10 retirees who accessed a pension didn’t use Pension Wise - how does the guidance service work?Many pension savers don’t bother using the free government-backed service Pension Wise. So, how does it work, and could it be useful for you?
