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| Hochtief opens up its PPP portfolio to investors Hochtief, a global construction group based in Germany, wants to open up its PPP school projects in the UK and Ireland to investors. To this end, six school projects were pooled in a newly established company, Hochtief PPP Schools Capital Ltd., at the end of last year. Financial investor The PFI Infrastructure Company plc (PFI Co) plans a 49-percent participation in the new company. A corresponding letter of intent was signed. The investor's entry is scheduled for the end of the construction phase of the first projects in December 2007. The planned option price is approximately GBP 9.3 million (EUR 13.5 million). The PFI Infrastructure Company plc (PFI Co) is the first special-purpose fund for private finance initiatives (PFI)/public-private partnerships (PPP) that is listed on the London stock exchange. PFI Co is managed by investment bank Quayle Munro which enjoys an excellent reputation in the PFI/PPP field. Hochtief and PFI Co are already partners in two of the PPP school projects transferred to the new company. With a stake of 51 percent, Hochtief PPP Solutions will remain majority shareholder of Hochtief PPP Schools Capital. The company will continue to be responsible for constructing, operating and managing the projects in future. Hochtief has transferred to PPP Schools Capital Ltd. all shareholdings in the six school projects in Manchester and Salford in England, in North Ayrshire and East Ayrshire in Scotland and in Bangor and Cork in Northern Ireland and the Republic of Ireland. write your comments about the article :: © 2007 Construction News :: home page |