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Carillion sells more PPP equity

Carillion has agreed to sell a further 5 per cent of its equity in the Allenby Connaught defence housing PPP project.

Last December, the Wolverhampton firm sold 65 per cent of its half-share in the project to Innisfree.

With the new deal releasing more equity to Innisfree, Carillion has now been left with a 12.5 per cent equity interest in the venture.

Allenby Connaught is a £1.4 billion Ministry of Defence housing project in which Carillion and KBR invested as Aspire Defence in 2006.

This latest deal follows Carillion’s decision to recycle equity investments in PPP projects by selling those that have made it to the operational phase, before reinvesting the funds into new projects.

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