International Public Partnerships sells stake in French project

28th Jul 2014 10:30

International Public Partnerships (INPP) has disposed of its holding in Medicast SAS, the Amiens hospital public-private partnership project in France.The 95% holding was sold to Atlante Property Management, a boutique French asset management company specialising in PPP asset management and origination. The transaction followed an unsolicited offer for the investment from Atlante. INPP said the Amiens investment was subscale in the context of its broader portfolio, representing less than 0.05% of the company's net asset value at the end of Decmeber 2013.The company expects to re-invest the proceeds from the sale into new infrastructure projects."The divestment of Amiens highlights the continuing investor demand for high-grade PPP assets across Europe," said Chairman, Rupert Dorey."The willingness to optimise INPP's portfolio for our investors means we can capitalise on such appropriate divestment opportunities as they arise."RD