HSBC Infrastructure Co Ltd (HICL) said it raised its stake in the Barnet Hospital Private Finance Initiative to 81 percent from 51 percent through a £2.7 mln investment and announced the sale of the final parcel of surplus land on the Colchester Garrison PFI Project by the project company.
The listed infrastructure investment company bought the 30 percent stake in the Barnet Hospital PFI from Siemens PLC, and the latter’s service delivery arrangements are not affected by this transaction. The project is a long term concession to design, construct, operate and maintain the re-building of Barnet General Hospital in North London. The project has been operational since April 2000.
The land sale at the Colchester Garrison PFI project to Taylor Wimpey Developments Ltd completes the land sale contract signed when the project reached financial close in 2004 and removes an uncertainty that had been noted in the HICL’s September 2008 interim report.
HICL is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. It currently owns a portfolio of 28 infrastructure projects, all operational, and is seeking further suitable investment opportunities.