HICL Infrastructure seals Canadian deal, cuts stake in Ealing project

HICL Infrastructure Company has completed the acquisition of the Royal Canadian Mounted Police headquarters in Canada’s British Columbia region for CA$ 54m (£26.9m).

HICL said it acquired a 99.9% stake in the project from InfraRed Infrastructure Fund III, while the remaining 0.01% stake was acquired from subsidiaries of the Bouygues Group.

The FTSE 250 company said the deal, which marks its third investment in Canada, was funded by existing cash resources and complemented the company’s portfolio investment.

In a separate announcement, HICL added it has reached a deal to sell part of its stake in Ealing Care Homes PFI Project to Redwood Partnership Ventures 2, a joint venture between the company and Kajima Partnerships.

The deal, worth approximately £1.6m, will see HICL’s 84% stake in the project being cut to 63%.

HICL shares were up 0.09% to 152.43p at 0901 BST on Thursday.