HICL makes £19m acqusition

Infrastructure investor HICL Infrastructure Company has acquired a new investment and bought an additional stake in an existing project for a total consideration of £19m.

The firm has acquired a 75% interest in the Sir Robert Hadfield Wing PFI Project, a three-year undertaking to design, build and maintain a 168-bed after-care facility at the Northern General Hospital in Sheffield.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

The acquisitions, which were funded from the group's existing cash and debt resources, bring the number of incremental acquisitions undertaken by the company since launch to 22 and the number of project subsidiaries to 15.

The firm said the total consideration paid for these investments is in line with the current valuation of similar UK PFI projects in the group's portfolio.

The share price fell 0.34% to 118.3p by 14:06.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.