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Skanska reaches financial close for New Papworth Hospital in Cambridge, UK

13 Mar 2015

Skanska and Equitix has reached financial close with the Papworth Hospital NHS Foundation Trust for the New Papworth Hospital in Cambridge, UK. The PPP-contract includes design, build, finance, operations and maintenance responsibilities. 

The construction contract is valued at around GBP 140 M, about SEK 1.8 billion, which will be included in the order bookings for Skanska UK for the first quarter of 2015.Skanska’s share of the equity investment is GBP 5.5 M, about SEK 70 M, which represents 50 percent and Equitix will commit the remaining 50 percent. 

The consortium consists of Skanska together with OCS, who will provide soft facilities management services. Construction is expected to start immediately, with estimated completion in early 2018.Skanska Infrastructure Development is a leader in the global Public Private Partnerships (PPP) market. The business unit invests in, develops and operates roads, hospitals, schools, power plants and other social infrastructure in partnership with the public sector.

About Equitix:

Equitix was established in 2007 and is based in London. Equitix is an integrated core infrastructure asset management and primary project platform and typically invests in UK infrastructure projects with long-term revenue streams across the healthcare, education, social housing, highways and street lighting, offshore transmissions and renewable and waste sectors. Tetragon (TFG) owns 85% of the business; over time, TFG’s holding is expected to decline to approximately 74.8%. Management own the balance. Equitix Investment Management Limited is authorised and regulated by the UK Financial Conduct Authority. 

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any state or jurisdiction.