TIDMINPP 
 
RNS Number : 6375W 
International Public Partnership Ld 
31 July 2009 
 

31st July 2009 
 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM ANY JURISDICTION 
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH 
JURISDICTION 
 
 
 
 
INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED 
(formerly known as Babcock & Brown Public Partnerships Limited) 
 
 
 
 
Acquisition of an additional interest in Brescia Hospital 
 
 
International Public Partnerships Limited ("the Company") is pleased to advise 
that it has secured an additional 13% interest in Brescia Hospital in Lombardy, 
Italy. The additional stake brings the Company's total interest in the project 
to 37% and represents an equal majority position alongside the local Italian 
shareholder, Fondaco. The purchase price of EUR1.04 million will be funded from 
the Company's existing cash balance.  Construction of the project was completed 
in 2004, and concession expiry is 2021. 
 
 
The additional stake, acquired from Bovis Lend Lease under a pre-emptive option, 
has the effect of increasing the overall project IRR to the Company to c.9.3% 
(post acquisition fees and management expense), which is above the target level 
of return for the Company. In addition to the project being immediately 
accretive to the portfolio, it also meets the Company's other key investment 
criteria including: 
  *  Project revenues linked to inflation (Italian RPI) 
  *  Project revenues guaranteed by the Region of Lombardy 
  *  Majority ownership and influence over project operations, including Board 
  representation and control of the asset management function exclusively by the 
  Company 
  *  Debt facility in place, and 100% swapped for the life of the concession, 
  ensuring no refinancing risk. 
 
 
 
The project also generates approximately EUR300,000 in additional third-party 
revenue to shareholders, which comes from café and retail operations.  The 
project is overseen by Mike Leto, a member of the Company's 16-strong asset 
management team, who was responsible for the Company's initial investment in 
Brescia. 
 
 
Giles Frost, Director of the Company said: "The acquisition of an additional 
stake in Brescia Hospital illustrates the potential to acquire accretive 
opportunities in the current market environment. We will continue to review 
further Italian opportunities in partnership with Fondaco, whom we have 
successfully worked alongside since 2007.  In addition, Amber is currently 
reviewing a number of other opportunities for the benefit of the Company.  This 
is a very exciting time for the Company to acquire PPP assets at better prices 
than we have seen at any time since the Company listed in 2006." 
 
 
For further information, please contact: 
 
 
Giles Frost                      +44 20 7203 7300 
Director 
 
 
Media Enquiries: 
 
 
Byron Ousey/Michael Turner    +44 20 7554 1440 
Kreab Gavin Anderson 
 
 
 
 
Notes to Editors: 
 
 
International Public Partnerships Limited is a closed end investment company 
that invests in infrastructure assets in the UK, Europe and internationally, 
particularly those with a public or social character such as those developed 
with public bodies under private finance initiative (PFI) or public private 
partnership (PPP) procurement. 
 
 
The portfolio consists of 50 PPP/PFI projects with more than 99% of revenues 
backed by Governments. There is diversification geographically as well as across 
several PPP/PFI sectors, including roads and tunnels, railways, schools, 
courthouses, police and custodial facilities, government offices and health 
facilities. Average remaining concession life of projects in the portfolio is 25 
years, against a weighted average debt tenor of 24 years, ensuring that project 
debt is largely matched to concession life. 
 
 
Amber Infrastructure Group has been responsible for the development and 
management of the majority of these assets and will continue to manage them for 
the benefit of INPP shareholders. 
 
 
The company listed on the Main Market of the London Stock Exchange in November 
2006, and is a constituent of the FTSE 250 and FTSE AllShare. 
 
 
 
Disclaimer 
Nothing in this press release is intended as an offer to sell or a solicitation 
of an offer to buy any securities. An investment in International Public 
Partnerships Limited (the "Company") carries certain risks and past performance 
cannot be relied on as a guide to future performance. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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