HICL Infrastructure, the infrastructure investment firm, is now the majority stakeholder in the Colchester Garrison private finance initiative (PFI) project after buying up a stake from design and engineering consultancy WS Atkins.
HICL has upped its stake in the project from 42% to 56% at a cost of £15m, which is in line with the current valuation of similar UK PFI projects in the group's portfolio. The deal comprises a gross consideration of £15m minus £0.6m previously received by Atkins under loan notes.
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