HICL Infrastructure Notes Interserve Collapse To Have Minimal Effect

LONDON (Alliance News) - HICL Infrastructure Co Ltd said Friday the collapse of support services ...

Alliance News 15 March, 2019 | 5:40PM
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LONDON (Alliance News) - HICL Infrastructure Co Ltd said Friday the collapse of support services and construction firm Interserve PLC will have an impact of "less than" 0.25% on its net asset value.

Earlier on Friday, Interserve announced it was preparing to enter administration after a long-running battle to turnaround the heavily-indebted firm failed as investors earlier rejected a share placing to help secure its deleverage plan.

In response to this announcement, HICL explained that Interserve provided facilities services to four operational private-public partnership companies in which it is invested. These, HICL emphasised, represent less than 2.0% of its portfolio value as of the end of September.

As a consequence, HICL does not expect the demise of Interserve to impact net asset value by more than 0.25%.

At the end of September, the NAV per share of HICL stood at 156.4 pence per share. Shares in HICL closed 0.4% lower at 162.50p on Friday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
HICL Infrastructure Company Ord 159.50 GBX -0.56 -
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