John Laing Group plc Disposal (6603H)

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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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November 16, 2018 09:43 ET (14:43 GMT)