July 14, 2017 / 1:56 PM / 11 days ago

BRIEF-HICL to acquire 35 pct stake in High Speed 1 project for 320 mln stg

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July 14 (Reuters) - Hicl Infrastructure Company Ltd :

* Acquisition of a new investment

* Signed an agreement to acquire a 35 per cent equity interest in entities that comprise High Speed 1 project

* HICL's share of consideration amounts to up to 320 mln stg

* Completion will occur following satisfaction of provisions in HS1 concession agreement relating to a change of control of HS1

* Investment will be funded using HICL'S existing cash resources and drawings from its revolving credit facility

* HICL will have a net funding requirement of approximately 140 mln stg Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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