Consultant sells final stake for 拢900,000 cash
Sweett Group has completed its exit from PFI investments with the sale of its interest in investment vehicle Scottish hub North Territory for 拢900,000.
The consultant has sold the stake to a joint venture company jointly owned by Sweett and fund manager Equitix.
Equitix will provide substitute financing for existing and future schemes rather than Sweett.
Sweett said in a trading statement that the cash will be used to reduce the firm鈥檚 debt.
Dean Webster, chief executive of Sweett said: 鈥淭he Group has now completed its strategic asset disposal programme of its investments in PFI/PPP projects.
鈥淭hese investments have provided a robust return and enabled the Group to reduce its debt.
鈥淲hile we have no future funding commitments, we will still remain an adviser in this specialist field鈥�
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