28 Feb 2024 | 08:41
HICL sells stake in US toll-road project for $232m, unveils £50m buyback
(Sharecast News) - HICL said it had was selling its entire stake in the US Northwest Parkway toll-road project (NWP) to VINCI Highways for $232m and starting a £50m share buyback with the proceeds.
The sale proceeds represent a 30% premium to the company's September 30, 2023 valuation. Completion is expected in the second quarter of this year, the company said on Wednesday.