Carillion sells 50% stake in Southmead Hospital PFI

HICL Infrastructure Company buys share for £87.8m

Southmead Hospital

Carillion has sold a 50% stake in the Southmead Hospital PFI to a US-based infrastructure investment company for £87.8m.

HICL Infrastructure Company has agreed to take over the stake in a 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 came into use in May 2014. The second phase, which includes the demolition of the old hospital site, is due for completion later this year.

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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