INPP acquires further BSF stake
2 July 2012
Infrastructure investor International Public Partnerships (INPP) has bought additional interests in eight Building Schools for the Future (BSF) projects.
The fund will acquire the stakes from contractor Carillion for around £30.3m, and follows on from its acquisition of BSFI, the education department’s stakes in all BSF projects last year.Under the latest agreement, INPP will gain majority stakes in BSF school projects in Wolverhampton, Nottingham, Rochdale, Durham, and South Tyneside and Gateshead, plus a 46% share in Tameside’s programme.
“The opportunity is evidence of the pre-emption right INPP acquired as part of the BSFI investment last year, and we hope to benefit further from this position over the coming years,” said Keith Dorrian, INPP chairman.
The funds for the acquisition come from a £200m share placing completed by INPP on 25 June this year.
