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Morgan Sindall sells fire station PFI share for £3.8m

Morgan Sindall has sold its share in the Dorset fire and rescue private finance initiative project for £3.8m.

The contractor’s investments division Morgan Sindall Investments sold its 33.5 per cent interest in the project to HICL Infrastructure Company.

Morgan Sindall had held the share since the project started in 2007. Construction was completed in 2009.

The company said:  “The disposal is in line with our strategy to realise investments as they mature on completion of construction in order to recycle capital into new projects.

“The total consideration received is £3.8m in cash, above the directors’ current valuation of the investment.”

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