HICL Infastructure acquires stake in two more LIFT companies

HICL Infrastructure has acquired a 60 per cent equity and loan note interest in two further local improvement finance trust (LIFT) companies, namely the Medway LIFTCo and the Redbridge & Waltham Forest LIFTCo.

HICL Infrastructure has acquired a 60 per cent equity and loan note interest in two further local improvement finance trust (LIFT) companies, namely the Medway LIFTCo and the Redbridge & Waltham Forest LIFTCo.

The £9.8m acquisition was funded from its existing cash resources and brings the total number of infrastructure investments in its portfolio to 81.

The two LIFTCos have together developed seven new primary care facilities with a total development cost of approximately £50m.

David Foot, Director of Infrastructure at InfraRed Capital Partners (HICL's Investment Adviser), said: "We are pleased to become the private sector partner in two further LIFTCos adding to our existing interests in the Birmingham & Solihull LIFTCo and the Staffordshire LIFTCo.

"We look forward to working with our public-sector partners to continue to provide new and improved health and social care facilities within the Medway and Redbridge & Waltham Forest areas."

The share price dipped 0.15% to 130.50p by 11:32 Tuesday.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021