HICL sells 30% of stake in US toll-road project for $86m

25th Apr 2023 08:25

(Sharecast News) - HICL said it had sold 30% of its equity interests in the US Northwest Parkway toll-road project for $86m.

Completion is expected in June and after completion of the deal HICL will retain a 23.3% equity interest and preserve its governance rights at the asset level board.

Proceeds from the transaction will be recycled into the company's investment in French fibre-to-the-home platform Altitude Infra.

Reporting by Frank Prenesti for Sharecast.com