International law firm CMS has advised FTSE 250 and London-listed investment company HICL on the c. £204m disposal of five assets to John Laing, an international core infrastructure investor.
HICL has a current portfolio of over 100 infrastructure investments. The disposal covers HICL’s entire equity interest in four UK Public-private partnership (PPP) projects: Queens Hospital, Oxford John Radcliffe Hospital, Priority Schools North East Batch and South Ayrshire Schools, in addition to half of its investment in the Hornsea II OFTO. All disposals are expected to complete by the end of the first quarter of 2024.
The CMS team was led by Corporate Partner Danielle Heath. Danielle Heath comments: “We have a long-standing relationship with InfraRed and, having acted for HICL on the acquisition of some of these assets, I was delighted to assist the HICL team with their disposal to John Laing. This was a significant disposal for HICL and a further demonstration of InfraRed’s ability to effectively acquire and manage the HICL asset portfolio to ensure stable returns for its investors.”
The wider CMS team included Joseph Ladusans, Aisling Knapton, Jason Todd, Anna Gillespie, Brett Mendonca and Nana Donkor (Corporate); Russell Hoare, Jean-Francois Willems and Lucy Charlatan (Competition); and Juliet Stradling and Thomas Forman (Energy & Climate Change).
