Kier cashes in schools PFI stake
Kier Group Pension Scheme has sold its 50% stake in the Sheffield Schools PFI project to a joint venture of HICL Infrastructure Company and Kajima Partnerships for £4.1m.
HICL now owns 75% of the investment and Kajima 25%.
The project is a 26-year PFI concession which involves the design, construction, financing, maintenance and operation of two new primary and two new secondary schools on behalf of Sheffield City Council. The project was signed in April 2005 and has been fully operational since January 2007. Kier Facilities Services continues to provide soft and hard facilities management services for the full term of the concession.
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This article was published on 22 Jan 2016 (last updated on 22 Jan 2016).