Interserve, the international support services and construction group, has sold 49.9 per cent of the equity and 62.0 per cent of the debt instruments in two subsidiaries which between them own 19 of Interserve's PFI investments.
The interests were sold for a total of £89.5m.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief Executive Officer Adrian Ringrose said: "Interserve plays a key role in modernising public sector infrastructure and improving public services. The disposal announced today demonstrates our ability to generate returns which will support new investments to further our strategic growth plans, whilst retaining our commitment to the long term needs of our clients."
The share price edged 0.43% higher to 372p in opening trading.
NR
-
Premium Bonds winners announced – did you scoop the September jackpot?NS&I has announced the winners for September’s Premium Bonds prize draw, with two lucky savers becoming overnight millionaires. Did you win this month?
-
What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
