A JOINT venture partnership with a half-share in the Sheffield Schools PFI Project has bought the other half in a £4.1m deal.
Investment group HICL Infrastructure and Kajima Partnerships had created a joint venture vehicle which owned 50% of the project, but has now bought the other 50% from Kier Group Pension Scheme.
The deal means HICL now holds a 75% stake and Kajima has 25% of the project, which is a 26-year PFI concession that involves the design, construction, financing, maintenance and operation of two primary and two secondary schools on behalf of Sheffield City Council.
The project was signed in April 2005 and has been fully operational since January 2007.
Soft and hard facilities management services will continue to be undertaken by Kier Facilities Services Limited.
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