Morgan Sindall Group plc announces today that its Investments division, Morgan Sindall Investments Limited (MSIL), has sold its 33.5% interest in the Dorset Fire & Rescue PFI Project to HICL Infrastructure Company Limited.
MSIL has held the 33.5% holding since its inception in 2007, when the project commenced. The construction phase of the project was completed in 2009.
The disposal is in line with our strategy to realise investments as they mature on completion of construction in order to recycle capital into new projects. The total consideration received is £3.8m in cash, above the directors’ current valuation of the investment.