PARIS (dpa-AFX) - HICL Infrastructure PLC (HICL.L), an investor in infrastructure assets, on Thursday announced that it has agreed to acquire a further 3.1 percent stake in the A63 Motorway concession in France for about 20 million pounds from a co-shareholder.
The company believes that the expected return and yield from this incremental investment significantly exceeds relevant hurdles, thereby increasing HICL's investment in a high-performing quality asset.
The asset in question is a 40-year toll-road concession to design, upgrade, finance, operate and maintain a 104km section of the existing A63 between Salles and Saint-Geours-de-Maremne where it benefits from its strategic position as an important trans-European transport corridor according to the company.
Previously, HICL invested in the A63 in 2017. Following this investment, the company will hold a 24 percent interest in the asset.
The acquisition will be funded from the proceeds of the recently announced disposals.
The transaction is scheduled to be completed in early 2024.
On Wednesday, HICL shares closed at 137 pence, up 1.63% in London.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX