Contractor's 30% stage in Renfrewshire programme goes to HSBC Infrastructure Company

Contractor Carillion has sold its stake in the Renfrewshire schools PFI project for £6.8m, to HSBC Infrastructure Company.

Carillion had a 30% stake in the programme, which built 10 primary and secondary schools before 2008. However, when the deal was signed in 2005 it was given a book value of £150m.

Amey, which holds a long-term contract to manage the schools, and the Bank of Scotland, share the rest of the ownership.