Kier Group has sold its 25.5% stake in Neath Port Talbot Hospital to Secondary Market Infrastructure Fund UK LP for £5m – more than twice the original investment in the project.
Kier Support Services will continue to provide non-clinical facilities management services at the hospital, where it has a 30-year contract that commenced in 2002.
Kier chief executive John Dodds said: “This sale demonstrates the value of our PFI portfolio to shareholders which, after disposals, stands at a committed book value of £16m.
“We remain committed to providing facilities management services to the Neath Port Talbot Hospital and to continuing our long-term relationship with the Bro Morgannwg NHS Trust.”
References: EGi News 10/01/05
