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.

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