Carillion sell £14.5m stake in barracks mega-project

Contractor Carillion has sold a further £14.5m stake in £1.4bn Allenby Connaught barracks PFI project to Innisfree.

The sale, which represents 5% of the equity in the scheme to provide new accommodation for up to 18,700 British troops, leaves Carillion owning 12.5% of the project. The deal follows its sale of the majority of its initial 50% stake in December last year.

In a statement, the contractor said: “This disposal is in line with Carillion’s policy of recycling its equity investments in Public Private Partnership projects, which involves selling equity in mature projects, namely those that are well established in the operational phase, and reinvesting the proceeds in new projects.”