John Laing Group plc Announcement of Disposal (0215Z)

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RNS Number : 0215Z

John Laing Group plc

12 December 2017

12 December 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Announcement of Sale of Llynfi Wind Farm investment and increased realisation level for 2017

John Laing Group plc, the international originator, active investor and manager of infrastructure projects, announces that it has agreed and completed the sale of its 100% investment in Llynfi Wind Farm in Wales to John Laing Environmental Assets Group Limited and that it is increasing its level of realisations for 2017.

The consideration, which is in line with the most recent portfolio valuation, is GBP43 million (before costs).

As a result of the above realisation, together with realisations already announced in the year to date of GBP256 million, the Group's total realisations announced in 2017 amount to GBP299 million. No further realisations are expected in 2017.

Olivier Brousse, John Laing's Chief Executive Officer, said:

"We are pleased to announce a further disposal as we continue to take advantage of strong demand for operating assets in order to fund our pipeline of attractive investment opportunities. As re-iterated in our pre-close update last week, our special dividend is based on realisations, and these are well ahead of the guidance of approximately GBP200 million we gave earlier in the year."

Further information

Analyst/investor enquiries:

 
 Patrick O'D Bourke, Group 
  Finance Director            [phone] 
 

Media Enquiries:

 
 James Isola, Maitland    [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 12, 2017 02:00 ET (07:00 GMT)