Contractor announces sale of PFI division to Infrastructure Investors
Alfred McAlpine has agreed to sell its PFI portfolio to Infrastructure Investors Limited Partnership for £52.2m.
The sale follows McAlpine’s announcement on Friday that it had reached agreement on a takeover deal by Carillion, which values the company at almost £600m.
The sale of the PFI portfolio to Infrastructure Investors, known as I2, involves equity interests in six PFI concessions within the roads, schools and healthcare sectors. The division was put up for sale as part of McAlpine’s demerger plans, announced before agreement on the Carillion offer.
Last year, the PFI investments contributed £2.6m to McAlpine’s profit. The deal will result in a profit on disposal of up to £24.9m.