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Disposal of UPP bidding and management operations07/12/2004 Jarvis plc announces, further to its announcement of 1 September 2004 that it had signed Heads of Terms with the Alma Mater Fund for the sale of its University Partnership Programme (UPP) bidding and management operation, that the sale has now been concluded. The transaction will involve the transfer of 35 employees to a new company, UPP Projects Limited. The Alma Mater Fund has previously partnered the UPP business and the university clients in developing university student accommodation projects and had recently acquired the economic interests in a number of the investments held in the UPP joint venture special purpose vehicles from Jarvis. Alma Mater is a joint venture partnership company managed by 3i and Barclays Private Equity and aims to develop a portfolio of student accommodation projects in partnership with universities across the UK.
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