HICL dives further into Poole

16th Feb 2012 08:20

Infrastructure investment firm HICL Infrastructure has acquired majority control of the Dorset Fire & Rescue project after doing a deal with Morgan Sindall Investments.HICL has bought an additional 33.5% equity and loan note interest in the project from Morgan Sindall Investments, bringing the group's total interest in the project to 67%.The total consideration paid by the group was £3.8m, which is in line with the current valuation of similar UK private finance initiatives projects in the group's portfolio.The acquisition was funded from the group's existing cash and debt resources.The project is a 27-year concession to design, build, finance and maintain a combined Police and Emergency Services Headquarters building in Poole, a Fire Station in Poole and a Fire Station and Fire Services headquarters building in Dorchester. The share price fell 0.33% to 119.5p by 08:23. NR