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Fri October 23 2020

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Carillion sells more of its Allenby Connaught equity

21 Dec 10 Carillion has sold a further 5% of its equity investment in the Allenby Connaught project to Innisfree for a total cash consideration of £14.5m.

Allenby Connaught is the £1.4bn Ministry of Defence housing project that Carillion’s Aspire Defence joint venture with KBR signed in 2006 as a public private partnership (PPP).

The equity disposal is in line with Carillion's policy of recycling its equity investments in PPP projects, which involves selling equity in projects that have mature to the operational phase, and reinvesting the proceeds in new projects.

Carillion sold 65% of its 50% interest in the Allenby Connaught project to Innisfree in December 2009.  As a result of this latest sale, Carillion has a 12.5% equity interest in the project.

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