PPP equity transactions totalled £11,997m between 1998-2012 in the UK based on the sale of equity in PPP projects, the sale of secondary market funds, takeover and merger of construction and PPP companies and public sector buy-out or contract terminations. The bulk of changes in PPP equity ownership occur via the sale of equity by project shareholders and by the takeover of secondary market funds- see Table 8 and Appendices 3 and 4.
Table 8: Equity sales by type of transaction (1998-2012)
Type | No. of transactions | No. of PPP projects | Estimated sale value (£m) |
Equity sale by project shareholders | 281 | 716 | 5,560.0 |
Takeover/merger of company | 5 | 65 | *1,004.0 |
Sale of secondary market infrastructure funds | 17 | 729 | 5,126.6 |
Public sector buy-out or contract termination | 5 | 5 | **306.4 |
Total | 308 | 1,515 | 11,997.0 |
Source: European Services Strategy Unit PPP Equity Database, 2012 * based on 1 transaction ** buyout costs only.