Interserve sells stake in University College London Hospital PFI

Interserve, the international support services and construction group, is selling its main interest in the University College London Hospital private finance initiative (PFI).

It is to sell an investment vehicle it owns in the project to CFIG Unicorn Holdings in a complicated deal worth £35m. At the conclusion of the process Interserve will retain a 16.7% stake in the UCLH development.

Tim Haywood, Interserve's Group Finance Director explained: "Our approach is to dispose of assets once we have added most of the value possible in a given contract. We have taken the opportunity to do this with UCLH, which comes after several recent investments including in the South-West Acute Hospital in Enniskillen, Northern Ireland, and the West Yorkshire Police PFI."

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

Interserve shares had gained 2.1% by 8:57.

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.