Public sector equity participation in PF2 projects — final documents published

In July 2013, the government opened a consultation on the terms on which the public sector (through the Treasury PF2 Equity Unit) would invest public money into public-private partnership projects (known as PF2 projects) going forward. On 16 October, it published its response together with the final form of the Shareholders Agreement, Articles of Association and Loan Note Instrument (Standard PF2 Equity Documents) that will be used.

The final approach is broadly the same as that set out in the consultation and the new documents will be used first for the privately financed element of the Priority Schools Building programme. The Education Funding Agency has already issued them to shortlisted bidders for the first two batches of schools.

When an authority begins its procurement for a PF2 project, it will advise prospective bidders whether the government wishes to make an investment and, if so, what percentage it will invest. The transaction must satisfy the Treasury PF2 equity unit’s eligibility criteria (yet to be published) and bids will be assessed against the eligibility criteria by ‘primary’ due diligence following submission of final bids, with ‘final’ due diligence taking place before financial close…

If you are registered and logged in to the site, click on the link below to read the rest of the Walker Morris briefing. If not, please register or sign in with your details below.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Walker Morris

View more briefings from Walker Morris

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Kings Court
12 King Street
Leeds
LS1 2HL
UK
http://www.walkermorris.co.uk

Turnover (£m): 42.50
No. of lawyers: 188

Jobs