Morgan Sindall sells medical stakes
23 July 2012
Morgan Sindall Investments has sold its interests in NHS Lift firm Community Solutions Investment Partners Limited and CSPC 3PD.
It has sold its shares to Equitix and MedicX Properties VII Limited, a subsidiary of MedicX Fund, respectively for a total consideration of £23.9m.Meanwhile, the firm has also acquired the 50% stake in Community Solutions Management Services Limited held by its joint-venture partner, Barclays European Infrastructure Fund II.
The company said the disposals – above the investors’ current valuation of the investments – is in line with its plans to realise investments as they mature in order to deploy capital in new projects.
“These transactions enable the group to recycle its capital into other developing markets and investment opportunities, whilst at the same time providing the opportunity to work with Equitix on new healthcare developments in the future,” said Morgan Sindall chief executive Paul Smith.
