International Public Partnership Ld Divestment of stake in French PPP investment (3930N)
July 28 2014 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 3930N
International Public Partnership Ld
28 July 2014
28 July 2014
INPP divests its stake in French PPP investment
International Public Partnerships Limited (INPP) is pleased to
announce the disposal of its holding in Medicast SAS - the Amiens
hospital PPP project ('Amiens') in France.
The sale was conducted on an opportunistic basis following an
unsolicited offer for the investment from a boutique French asset
management company specialising in PPP asset management and
origination, Atlante Gestion. INPP's 95% interest in the equity and
subordinated debt behind Amiens was purchased by Atlante Property
Management for a premium to the Company's valuation for the
project.
INPP determined that the Amiens investment was subscale in the
context of its broader portfolio, representing less than 0.05% of
the Company's Net Asset Value (as at 31 December 2013).
INPP expects to re-invest the proceeds from the sale in the
current pipeline of new infrastructure opportunities being
developed by the Company and its investment adviser.
Chairman of INPP, Mr. Rupert Dorey, added: "The divestment of
Amiens highlights the continuing investor demand for high-grade PPP
assets across Europe. The willingness to optimise INPP's portfolio
for our investors means we can capitalise on such appropriate
divestment opportunities as they arise."
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
Notes to Editors:
About International Public Partnerships (INPP):
International Public Partnerships (INPP) is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships (PPP), private finance initiative (PFI), regulated
asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 114 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and utility and transmission
projects in the U.K., Europe, Australia and Canada. INPP seeks to
provide its shareholders with both a long-term yield and capital
growth through investment across both construction and operational
phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to
INPP and consists over 70 dedicated staff who manage, advise on and
originate projects for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
This information is provided by RNS
The company news service from the London Stock Exchange
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