International Public Partnership Ld Rolling Stock Procurement by Angel Trains (9059Q)
September 05 2014 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 9059Q
International Public Partnership Ld
05 September 2014
5 September 2014
Angel Trains agreement to procure and lease new passenger
rolling stock for Stagecoach South West Trains
International Public Partnerships Limited ('INPP') notes the
announcement by Angel Trains Limited, of its successful bid to
provide 150 new, high quality passenger carriages to Stagecoach
South West Trains Limited ('SSWT') with a value of approximately
GBP240 million.
INPP owns a 4.8% investment in Angel Trains which is one of
Britain's leading train owning companies, leasing rolling stock to
all 19 franchised operators in the UK. The new Desiro City will be
manufactured by Siemens and is a second generation Electric
Multiple Unit commuter train designed to carry more passengers and
to have a significantly reduced whole life, whole system cost,
meaning each unit costs less to maintain, uses less power and
causes less damage to infrastructure.
The total value of the new trains is in excess of GBP220 million
of which INPP's pro rata share would be expected to be
approximately GBP11 million. Details of the financing arrangements
have not yet been made available by Angel Trains but the new trains
are likely to be financed by Angel through a mix of debt and equity
investment in proportions to be determined. INPP expects the
acquisition to be accretive to its projected returns from its
existing investment in Angel. Angel Trains continues to be active
in pursuing other rolling stock infrastructure opportunities.
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 115 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
END
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