Struktron Groep (Strukton) has agreed to sell an 80 percent stake in six public-private partnership (PPP)interests to DIF, the Schipol, Netherlands-based fund manager. The transaction still requires approval from various parties but is expected to complete by the end of this year.
The agreement covers the following projects: Kromhout Barracks in Utrecht; Offices for the Education Executive Agency and Regional Tax Office in Groningen; Montaigne Lyceum in the Hague; Offices for the Ministry of Finance in the Hague; the Harnaschpolder/Houtrust wastewater purification system in Den Hoorn and Scheveningen; and the Maasvlakte-Vaanplein section of the A15 motorway.
According to a statement from DIF, the projects represent a total value of €2.3 billion with contracts running from 20 to 28 years following the completion of construction. Strukton’s commitment to the projects is €29.5 million including future commitments to make payments on subordinated loans.
Operating company Strukton Integrale Projecten will remain responsible for the day-to-day management of the interests.
“This sale to DIF is strategically important for Strukton because it lets us release capital that will allow us to continue to play a leading role in future PPP projects as a provider of equity ,” said Raymond Steenvoorden of the Strukton Group Board.
Yesterday, we reported that DIF had reached financial close on the €200 million Noord Zuid Kempen availability-based road project in Belgium, with banking finance provided by KBC, ING and SMBC.