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."
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