CALGARY — Calgary-based Graham Capital Partners LP recently announced it has acquired and completed the purchase of Carillion Private Finance Limited’s share in the Saskatchewan Hospital North Battleford (SHNB) Project.
Under the transaction, Graham Capital, a subsidiary of Graham Group Ltd., acquired 50 per cent of the issued and outstanding shares of Access Prairies Partnership (APP). Graham Capital already owns the remaining 50 per cent, noted a recent statement.
APP is the contracting entity responsible for the design, construction, maintenance and partial financing of the new provincial mental health treatment centre.
On Jan. 15 Carillion Canada’s parent company Carillion PLC, based in the U.K., announced it was going into liquidation. The statement said the equity sale is the result of that process.
The new 284-bed SHNB will have 188 beds, replacing the existing 156-bed facility, and a 96-bed secure unit for male and female offenders living with mental health issues. The project is in the final stages of construction.
“We’re pleased to announce that we closed the Share Purchase Agreement with Carillion,” says Tim Heavenor, CFO, Graham Group Ltd., in the statement. “While the insolvency of Carillion was disruptive to the project, the province of Saskatchewan has been protected from the financial impact by the P3 contract. With this transaction completed, our team can now focus on service commencement and the transition into the 30-year operating period.”
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