John Laing Group plc Disposal (6603H)
17 November 2018 - 1:43AM
UK Regulatory
TIDMJLG
RNS Number : 6603H
John Laing Group plc
16 November 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Expected sale of 37.43% shareholding in Manchester Waste TPS
Co
John Laing Group plc (John Laing), the international originator,
active investor and manager of infrastructure projects, announces
that, pursuant to a sale process initiated by John Laing, one of
its co-shareholders in the Manchester Waste TPS Co project, Viridor
Waste Management Limited, is exercising its pre-emption rights over
John Laing's shareholding.
Manchester Waste TPS Co is a combined heat and power, energy
from waste plant located in Runcorn, Cheshire.
Sale of the shareholding is consistent with the reduction in UK
exposure referred to in John Laing's results for the six months
ended 30 June 2018. The consideration payable of GBP54.5m is
slightly ahead of John Laing's valuation at 30 June 2018.
It is expected that a sale and purchase agreement will be
entered into shortly and that the transaction could complete during
2018. If the transaction does complete in 2018, John Laing's
guidance for realisations in 2018 would increase from GBP250m to
GBP296m. Realisations to date are GBP241.5m.
Analyst/investor enquiries
Patrick O'D Bourke + 44 20 7901 3200
Media enquiries:
James Isola, Maitland + 44 20 7379 5151
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END
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