International Public Partnerships Limited (INPP.L) has agreed to sell around 1.6% of its stake in Angel Trains to a vehicle managed by Arjun Infrastructure Partners for about £32 million.
The deal, expected to close in the coming weeks, is priced at a premium to INPP's last reported valuation as of December 31, 2024.
Following the sale, INPP will retain about 8.4% of Angel Trains and maintain board representation through Amber Infrastructure Group.
Angel Trains owns over 4,000 vehicles and has been active in rail investment since 1994. INPP first invested in the company in 2008.
INPP plans to use the proceeds from the sale to fund its expanded share buyback program, which is now up to £200 million, and future investments such as its £250 million commitment to the Sizewell C nuclear project.
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