Source: Hemscott

LONDON (AFX) - Land Securities Group PLC today said it has won the race to buy the UK's Secondary Market Infrastructure Fund (SMIF), Europe's largest PFI investor and the only sizeable British PFI portfolio, other than John Laing.

The property giant said it will pay 527 mln stg for the PFI secondary market investor to its owners STAR Capital Partners, HBoS and AMP Capital Investors, plus around 400 mln stg in total debt.

Land Securities has snapped up the PFI secondary market investor after a four-month sale which saw interest from financial heavyweights such as Macquarie, Ontario's Teachers Pension Plan, 3i with Barclays and SG, HSBC Infrastructure, all interested in the predictable and stable levels of cash flow PPP/PFI projects offer.

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Posted by pichu at December 23, 2006 2:28 PM