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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Catering, cleaning and transport services are provided by Sodexo Defence Services Limited. Sodexo Property Solutions (formerly known as Atkins Facilities Management Limited) is responsible for estate and grounds maintenance, contract management and security, waste management and life-cycle.
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