John Laing Group plc Sale of JLEN Investment Advisory Agreement (1931B)
05 June 2019 - 4:01PM
UK Regulatory
TIDMJLG
RNS Number : 1931B
John Laing Group plc
05 June 2019
5 June 2019
John Laing Group plc (John Laing or the Company), the
international originator, active investor and manager of
infrastructure projects, announces that it has reached agreement
with Foresight Group CI Limited (Foresight Group) for the sale of
the Investment Advisory Agreement between John Laing Capital
Management Limited (JLCM) and John Laing Environmental Assets Group
Limited (JLEN).
Following the acquisition of John Laing Infrastructure Fund
Limited in October 2018, the Company has now agreed the sale of its
remaining fund management activities by way of a novation of the
JLEN Investment Advisory Agreement and transfer of the investment
advisory team, following completion of a TUPE process with affected
employees, to Foresight Group. This transaction will ensure JLEN
receives the focus and investment it requires to support its future
growth.
The sale will allow the Company to concentrate its focus on the
core business of investment in and active management of greenfield
infrastructure projects and is expected to complete at the end of
June 2019.
Further information:
Analyst / investor enquiries:
Tejal Patel, Investor Relations & Finance Manager | +44 (0) 20 7901 3200
Media Enquiries:
Camilla Cunningham, Teneo | +44 (0) 20 7420 3186 | JohnLaing@teneo.com
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END
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