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HICL completes acquisition of HS1 stake

07 September 2017 09:52

HICL Infrastructure Co Ltd has completed the acquisition of an equity interest in the entities that comprise High Speed 1. The details of the transaction were announced by the company on 14 July.

HICL said it had also successfully finalised co-investment in relation to HS1.

In line with the Company's previously announced intention, a group of InfraRed-managed minority co-investors, comprising Korean institutional investors and UK local authority pension funds, have invested approximately £120 million.

HICL's own share of the consideration for the HS1 acquisition amounts to £196 million.

With co-investment now finalised, HICL has a 21.8% equity interest in HS1 and a net funding requirement of approximately £140 million.

At 9:52am: (LON:HICL) HICL Infrastructure Co Ltd share price was -0.05p at 163.45p

Story provided by StockMarketWire.com

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