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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.

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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

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