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HSBC Infrastructure Company to acquire 50% financial interest in Catalyst Healthcare (Romford) Holdings (Queen's Hospital)

Posted on: Fri, 27 Nov 2009 13:52:00 EST

Symbols: LLESY

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Nov 27, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
LLESY | Quote | Chart | News | PowerRating -- Lend Lease Corporation Limited, through its UK public private partnership (PPP) business Catalyst Lend Lease, has agreed to sell its 50% financial interest in Catalyst Healthcare (Romford) Holdings Limited (Queen's Hospital), a UK-based hospital, to HSBC Infrastructure Company Limited for GBP23.9 million.

Lend Lease is an Australian company engaged in project management and construction, property investment management, and property development businesses, while HSBC Infrastructure is a UK-based company engaged in infrastructure investment.

The transaction is expected to close on December 3, 2009.

Deal Value (US$ Million) 39.68
Deal Type                Acquisition
Sub-Category             Minority Acquisition
Deal Status              Announced: 2009-11-27

Deal Participants

Target (Company)   Catalyst Healthcare (Romford) Holdings Limited
Acquirer (Company) HSBC Infrastructure Company Limited
Vendor (Company)   Lend Lease Corporation Limited

Deal Rationale

The sale of financial interest in Queen's Hospital is in line with Lend Lease's strategy of recycling its capital to drive the group's return on equity and fund future PPP opportunities in the UK.

% Acquisition 50%

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