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HICL completes acquisition of stake in Affinity Water

22 May 2017 07:41

HICL Infrastructure Company Limited has completed the acquisition of a 36.6% equity interest in the various entities that comprise the Affinity Water Group.

The details of the transaction were announced by the Company on 2 May

HICL said it was in advanced discussions to sell down a £25 million portion of this investment to a small group of co-investors, comprising UK local authority pension funds.

It said this exemplified the group's strategy of building strategic relationships with aligned co-investors in order to enable HICL to manage its portfolio exposure to larger investment opportunities.

It said the sell down was expected to complete in the next few weeks and would leave HICL with a 33.2% equity interest in Affinity Water and a net funding requirement of approximately £205m.

Story provided by StockMarketWire.com

Related Company: HICL

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