International Public Partnership Ld INPP Reaches Financial Close on BeNEX Acquisition (4201E)
July 04 2019 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 4201E
International Public Partnership Ld
04 July 2019
INPP reaches financial close on benex acquisition
4 July 2019
International Public Partnerships Limited ('the Company',
'INPP'), the listed infrastructure investment company, notes that
it has completed its acquisition of a further equity interest in
BeNEX GmbH ('BeNEX').
This follows the announcement made in April 2019 that the
Company had entered into a conditional sale and purchase agreement
to acquire a further 51% shareholding in BeNEX from Hamburger
Hochbahn AG ('HHA'), taking its ownership to 100% following the
Company's acquisition of its initial 49% stake in 2007.
The Company re-confirms that it will invest up to approximately
EUR54 million of which part will be invested immediately as
additional capital to BeNEX (which will be used primarily to reduce
certain debt which was linked to a requirement for HHA to be a
continuing shareholder) and the remainder will be used to acquire
the additional 51% shareholding. The payment to acquire the
shareholding will be deferred over the period to 2026 and is
expected to be funded by a return of capital from BeNEX over the
same period.
ENDS.
For further information:
Erica Sibree/Amy Joslin
Amber Fund Management Limited +44 (0)20 7939 0558/0587
Hugh Jonathan
Numis Securities +44 (0)20 7260 1263
Ed Berry/Mitch Barltrop
FTI Consulting +44 (0) 20 3727 1046/1039
About International Public Partnerships (INPP):
International Public Partnerships ('INPP') is a listed
infrastructure investment company which invests in global public
infrastructure projects and businesses, which meets societal and
environmental needs, both now, and into the future.
INPP is a responsible, long-term investor in 130 infrastructure
projects and businesses, including utility and transport
businesses, transmission projects, education, health and other
accommodation assets in the UK, Europe, Australia and North
America. INPP seeks to provide its shareholders with both a
long-term yield and capital growth.
Amber Infrastructure Group ('Amber') is the Investment Adviser
to INPP and consists over 120 staff who are responsible for the
management of, advice on and origination of infrastructure
investments.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
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END
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