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John Laing Infrastructure agrees five deals with John Laing Group

Staff Writer |
John Laing Group is to sell five UK investments to John Laing Infrastructure Fund, it said Monday, with deal completions expected by mid-November.

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John Laing Infrastructure is to purchase an additional 9% indirect interest in the Intercity Express Programme Phase 1 project, taking its total holding in the project to 15%.

JLI is also to take a 50% interest in the Lambeth Social Housing project, a 5% interest in the City-Greenwich-Lewisham Docklands Light Railway project, a 100% stake in the Coleshill Parkway railway project, and a 50% interest in the Aylesbury Vale Parkway railway project.

JLI said it has also signed agreements to purchase The John Laing Pension Trust Ltd's interests in the Docklands Light Railway project and Aylesbury Vale Parkway.

The fund said it is to takeover JLP's 47% interest in the Docklands Railway project and its 50% interest in Aylesbury Vale Park, meaning it will wholly-own the latter.

The combined consideration for the five purchases from John Laing Group amounts to GBP104 million before costs, with GBP4.0 million of this deferred.

With the total JLI is paying including the further two acquisition from the pension trust at GBP141.2 million, the suggested consideration for the final two purchases from JLP is GBP37.2 million.

As a result, John Laing Group's total realisations for the year-to-date will be GBP255.0 million, ahead of previous guidance for 2017 of around GBP200.0 million.

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