John Laing Group plc Divestment Update (2334G)
16 Marzo 2020 - 08:00AM
UK Regulatory
TIDMJLG
RNS Number : 2334G
John Laing Group plc
16 March 2020
DIVESTMENT UPDATE
John Laing Group ('John Laing'), the international active
investor and partner behind responsible infrastructure, is pleased
to announce that it has entered into a purchase and sale agreement
with an affiliate of Capital Power Corporation for the sale of its
interest in Buckthorn Wind farm.
Buckthorn is a 100MW wind farm located in Erath County,
approximately 60 miles south of Dallas, Texas. Since we first
committed to invest in Buckthorn in mid-2017, the final stages of
construction and a refinancing have been completed and Buckthorn
has successfully ramped up to steady state operations.
The purchase price is consistent with our latest valuation and
the sale is expected to complete in the second quarter of 2020
subject to regulatory approvals and customary closing
conditions.
Luciana Germinario, John Laing's Chief Financial Officer and
Chair of the Group's divestment committee, commented:
'We are pleased to announce our second divestment in the US,
taking advantage of the high demand for operational renewable
assets. In-line with our business model, we remain focused on
capitalising on strong secondary markets, with a portfolio of
high-quality assets available for sale over the next two
years.'
Further information:
Analyst / Investor Enquiries:
Kellie McAvoy, Head of Investor Relations +44 (0) 20 7901 3200
Media Enquiries: Teneo +44 (0) 20 7420 3186
Camilla Cunningham +44 (0) 7464 982426
Matt Denham +44 (0) 7825 735596
JohnLaing@teneo.com
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END
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