Press Release
29 August 2007
McGrigors advises on public private partnership for West Lothian schools
UK law firm McGrigors LLP has once again demonstrated its expertise in the PPP sector having advised on a £78 million West Lothian Schools PPP project. The deal reached financial close on 17 August 2007.
McGrigors acted on behalf of a Hochtief PPP Solutions (UK) Limited, Dawn Construction Limited and Pacific Partners LLP consortium who were financed by Dexia Credit Local S.A. The PPP contract will see the construction of two new high schools, Armadale Academy and Deans Community High School which will complete in August 2009. New facilities at the schools will include sports pitches, swimming pools and other facilities which will be available for extensive community use.
McGrigors has acted on over 150 PPP projects across the UK including a recent £180 million PPP contract with Newcastle City Council to refurbish or rebuild 16 schools across the city through the BSF (Building Schools for the Future) programme.
Stephen Tobin, a partner in the McGrigors Project Finance Team who advised on the deal said: “This is a landmark deal for the firm as this is the first Scottish schools PFI project to reach financial close under the new EU competitive dialogue procedure and McGrigors is delighted to have been involved. Public Private Partnership projects are a core area of growth for our Infrastructure Practice.”For further information please contact:
Louisa Hollins
Financial Dynamics
Telephone - +44 (0) 20 7269 7108
Email - Louisa.hollins@fd.com
Andy Peat
Financial Dynamics
Telephone - +44 (0) 20 7269 7185
Email - andy.peat@fd.com