John Laing Group plc Divestment Update (8878L)
May 05 2020 - 4:21AM
UK Regulatory
TIDMJLG
RNS Number : 8878L
John Laing Group plc
05 May 2020
EMBARGOED UNTIL 7AM, TUESDAY 5 MAY 2020
DIVESTMENT UPDATE
John Laing Group plc ("John Laing" or "the Group"), the
international active investor and partner behind responsible
infrastructure, is pleased to announce that it has completed the
sale of its 30% interest in Auckland South Corrections Facility to
AMP Capital for a price in-line with the Group's latest
valuation.
This 960-place correctional facility in Auckland, New Zealand
has an innovative approach to the education, rehabilitation and
reintegration of offenders into the community, operating a
results-focused model, with the aim of reducing recidivism
rates.
Luciana Germinario, John Laing's Chief Financial Officer,
commented:
'We are proud to have worked with the New Zealand government on
this flagship project to use public-private partnerships to drive
measurable social change. Following recent disposals in the US and
France, we are pleased to have made further progress with our
divestment programme. We have a strong pipeline of high-quality
assets becoming available for sale over the next 12 months,
including IEP East and our Australian wind and solar portfolio.
While the impact of recent events on secondary markets remains to
be seen, our strong balance sheet gives us flexibility and leaves
us well positioned to maximise value.'
Further information
Analyst/investor enquiries:
Kellie McAvoy, Head of Investor
Relations +44 7923 249 298
Media enquiries:
Matthew Denham, Teneo +44 7825 735 596
Camilla Cunningham, Teneo +44 7464 982 426
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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