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Thu April 15 2021

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Carillion sells 50% stake in Southmead PFI hospital

7 Jul 15 HICL Infrastructure Company has bought a 50% interest in the Southmead Hospital PFI project from Carillion for £87.8m.

The project is a £430m, 35-year concession to design, build, finance, operate and maintain an 800-bed acute hospital on a site at Southmead in North Bristol, on behalf of the North Bristol NHS Trust. Construction is being undertaken by Carillion Construction in two phases. The first phase came into use in May 2014. The second phase, which includes the demolition of the old hospital site, is due for completion in 2016. The provision of hard facilities management services during the operational phase is subcontracted to Carillion Services under a concession life contract.

HICL is advised by InfraRed Capital Partners, whose infrastructure director Tony Roper said: "We are delighted to further our long-standing relationship with Carillion with this acquisition, and we look forward to working with all stakeholders in the project to provide the building and associated services to the required contractual standards."

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