TIDMINPP 
 
RNS Number : 6787A 
International Public Partnership Ld 
13 October 2009 
 

13 October 2009 
 
 
 
 
 
 
Acquisition of an additional interest in Diabolo Rail Project 
 
 
 
 
International Public Partnerships Limited ("the Company") is pleased to advise 
that it has secured an additional 10% interest in the Diabolo rail project in 
Brussels, Belgium. The additional stake brings the Company's total interest in 
the project to 75%. The remaining 25% interest is owned by the project lender, 
HSH Nordbank. The purchase price (including costs) of GBP3.0 million will be 
funded from the Company's existing cash balance. Construction of the project is 
scheduled for completion mid-July 2012 and concession expiry is 2047. 
The Company negotiated to acquire the stake from Babcock & Brown at original 
investment cost, or par value, which has the effect of increasing the overall 
projected IRR on the Company's investment in Diabolo to 12.5%, well 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 (Belgium CPI) 
  *  Project revenues contracted by Infrabel, the state owned rail infrastructure 
  manager 
  *  Majority ownership and influence over project operations, including Board 
  representation and asset management 
  *  Debt facility in place, and 100% swapped at a fixed rate for the life of the 
  concession. 
 
The project has been overseen by members of the Company's 16-strong asset 
management division since the initial investment in 2007, and requires no 
additional management resource despite the incremental revenue. 
Giles Frost, Director of the Company said: "We are pleased to acquire an 
additional stake in an asset that we have overseen for two years and is 
currently performing well. The acquisition is demonstrably accretive for 
INPP. In addition, Amber is reviewing a number of other opportunities for the 
benefit of the Company. This is a very exciting time for INPP to acquire PPP 
assets at attractive prices." 
 
 
 
 
For further information: 
 
 
Bianca Francis                                                        +44 (0)20 
7939 0558 
Amber Fund Management Limited 
 
 
Nick Westlake+44 (0)20 7260 1345 
Numis Securities 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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