HICL Infrastructure, the listed infrastructure investment company, has announced the acquisition of:

1. The remaining 50% equity interest in the Newton Abbot Community Hospital Project. Newton Abbot is a 31 year concession which runs until December 2038 for the construction and operation of a community hospital for Torbay and Southern Devon Health and Care NHS Trust.

2. A further 5% equity and loan notes interest in the Connect Project giving the Group a 33.5% interest overall. Connect is a 20 year concession which runs until November 2019 to upgrade and operate London Underground Limited's radio and telecommunications systems.

The company said that the total consideration paid for the two acquisitions is in line with the current valuation of other UK PFI projects in HICL Infrastructure's portfolio, and the acquisitions are central to the strategy of investing in operational social and transportation infrastructure concessions.

The acquisitions were funded from HICL Infrastructure's existing cash and debt resources.