HICL sells stake in US toll-road project for $232m, unveils £50m buyback

HICL Infrastructure

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11:44 25/11/24

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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.

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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.