Hochtief Solutions acquires further stake at two HICL Infrastructure projects

14th Apr 2015 08:20

Investment group HICL Infrastructure said on Tuesday that Hochtief Solutions had acquired further equity interest in two of its existing projects in Greater Manchester for £16m.The UK subsidiary of German construction company Hochtief AG paid the sum for a further 40% interest in the Salford & Wigan Phase 1 project and a 40% interest in the Salford & Wigan Phase 2 project.As a result, Hochtief Solutions now holds an 80% stake in each project.HICL added that the acquisitions met current valuation of other infrastructure projects in the group's portfolio.Last month, the infrastructure investment company revealed it would invest £7.2m to build new schools in the North East.It's shares fell 0.14% to 154.59p on Tuesday at 08:02.