Skanska sells its equity stake in Royal Papworth Hospital in Cambridge, UK, for about GBP 9M, about SEK 110M

9/30/2022 1:40 PM CET
Press release Non-regulatory press releases

Skanska has signed a binding Stock Purchase Agreement (“SPA”) for its 50 percent ownership in the PPP project Royal Papworth Hospital i Cambridge, UK, for about GBP 9M, about SEK 110M. The buyer is Equitix Infrastructure 3 Ltd. Closing of the transaction is scheduled for September 30 and it will be recorded under the Central stream in the third quarter of 2022.

After the divestment Skanska has no further PPP investment operations in the UK. Accumulated translation differences and accumulated exchange rate differences from currency hedges related to the PPP investment operations in the UK will therefore positively impact the third quarter result with about SEK 150M.

The construction of the 40,000 square meter specialist hospital was completed in 2019. Skanska’s original investment in the PPP project was made in 2015. The PPP-contract included design, build, finance and operations and maintenance obligations. Skanska UK will continue to provide maintenance services to the project.