IFM News

IFM announces sale of Wales & West Utilities

Posted by IFM on 25 July 2012

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The IFM International Infrastructure Fund has divested its interest in Wales & West Utilities following an agreement with Cheung Kong Infrastructure (CKI) to acquire 100% of the company from existing shareholders. This is a very opportunistic sale on behalf of our investors at a strong valuation premium. Wales & West Utilities has been a stable, core infrastructure investment for IFM and its sale delivers a strong return to investors while providing financial flexibility given the attractive acquisition opportunities across Europe and North America. Financial completion is expected by 30 September 2012 and is subject to EU merger clearance.