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LONDON - International Public Partnerships Limited (INPP) announced Monday it has agreed to sell a minority portion of its investment in Angel Trains to a vehicle managed by Arjun Infrastructure Partners, according to a press release statement.
The transaction, expected to complete in the coming weeks, will generate approximately £32 million for INPP in exchange for a roughly 1.6% stake in Angel Trains. The company stated that the sale price represents a premium to its last published valuation as of December 31, 2024.
Following the disposal, INPP will retain an approximately 8.4% stake in Angel Trains, the UK’s largest rolling stock leasing company with over 4,000 vehicles in its asset base. INPP will maintain board representation through its Investment Adviser, Amber Infrastructure Group.
The divestment aligns with INPP’s capital allocation strategy, which includes targeted divestments to demonstrate value and realize capital. Since July 2023, INPP reports having realized over £345 million in proceeds across various infrastructure sectors, representing about 13% of its portfolio.
Proceeds from the transaction will support INPP’s share buyback program and future investment commitments, including its recently announced £250 million commitment to Sizewell C. To date, approximately £88 million has been used for share buybacks under a program recently expanded to £200 million.
INPP initially invested in Angel Trains in 2008 and has made follow-on investments in subsequent years. Angel Trains has operated in the UK rail industry since 1994.
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