DIF Infrastructure III has announced in a press release that it has acquired an additional 40 % stake in an operational portfolio of 10 PFI projects in the UK from Amey Investments Limited.

The acquired portfolio is comprised of 10 operational PFI projects in the UK and includes street lighting projects, schools, courts and a road maintenance project. DIF Infrastructure III acquired a 40% shareholding in the holding company Amey Ventures Investments Limited (AVIL) from Amey Investments Limited.

DIF Infrastructure III will now be a shareholder alongside DIF Infrastructure III which already owns a 50% share in AVIL whilst Amey Investments will continue to hold a 10% share. AVIL holds majority and minority shareholdings in the projects alongside varying other shareholders. The projects have been commissioned between 2004 and 2009 and have a concession life ranging between 15 and 30 years.

DIF has invested in over 80 infrastructure projects throughout Europe, with a total project value of around EUR 10 bn across three distinct investment funds.

Amey, owned by Ferrovial, made no comments about the deal.

Source: DIF