HSBC Infrastructure Company Limited (HICL), a listed infrastructure investment company, has acquired an additional 30 per cent stake in the Barnet Hospital PFI Project from Siemens Plc for £2.7 million.

HSBC Infrastructure Company Limited (HICL), a listed infrastructure investment company, has acquired an additional 30 per cent stake in the Barnet Hospital PFI Project from Siemens Plc for £2.7 million.

The cash deal sees HICL up its equity interest in the project from 51 per cent to 81 per cent. The Barnet Hospital PFI project is a long-term concession to design, construct, operate and maintain the re-building of Barnet General Hospital in North London.

The Project has been operational since April 2000.

Keith Pickard, portfolio director, HSBC Specialist Fund Management Limited, said: “The bolt-on acquisition in particular supports our strategy of expanding HICL through carefully selected purchases of infrastructure investments.

HICL was launched on 29 March 2006 when it listed on the London Stock Exchange – in the process becoming the first infrastructure investment company to list on the LSE.

As of September, its ten largest assets as at September 2008 included Bishop Auckland Hospital, Central Middlesex Hospital and Colchester Garrison. The investment company has also announced the sale of the final parcel of surplus land on the Colchester Garrison PFI project.