INPP Agrees Binding Terms To Acquire Five Infrastructure Investments In New Zealand

(RTTNews) - International Public Partnerships Limited (INPP.L) has agreed binding terms to acquire five infrastructure investments in New Zealand for approximately 200 million New Zealand Dollar from Morrison & Co managed Public Infrastructure Partners. INPP noted that the acquisition marks the company's first investment in New Zealand.

The portfolio comprises five projects, where INPP will have 100% ownership: three schools projects; the Auckland Prison; and a purpose-built student accommodation facility at the Auckland University of Technology.

Mike Gerrard, Chair of INPP, said: "New Zealand is a mature infrastructure market, complementing our proven track record over the past decade in Australia."