Research by the European Services Strategy Unit has exposed the fact that Carillion plc sold equity in 49 PFI projects between 2003 and 2017 gaining a revenue of £500m. Most of the transactions were to offshore infrastructure funds.
Carillion currently has 25%-90% equity stakes in 12 PFI projects with a capital value of £1,281m. In addition, it has a 33.33% equity in the Aberdeen Western Peripheral Route (a Scottish Non-Profit Distributing (NPD) project with a capital value of £469m. It is involved in joint ventures, such as a 50% equity in Aspire Defence Services Limited, which had a £94m turnover in 2016 delivering the MoD Allenby-Connaught PFI project (£1.6bn capital value).
The Independent article:
See spreadsheet of Carillion PFI Equity sales