(Alliance News) - John Laing Group PLC on Wednesday announced it has completed the sale of its 17% interest in the New Royal Adelaide Hospital to funds managed by AMP Capital.
The FTSE 250-listed infrastructure investor said the consideration received represents "a good uplift" to the GBP69 million book value as at December 31, 2020.
This transaction further strengthens visibility on the 2021 special dividend, John Laing said, with total proceeds eligible to be included in the payout calculation to date amounting to GBP433 million.
This also includes proceeds from sales of its Australian wind farm portfolio, the second stage of IEP East, and the Rammeldalsberget wind farm in Sweden. The Swedish sale was completed earlier this month for EUR8.9 million.
John Laing said it has invested a total of GBP37 million since first joining the hospital project back in 2011.
"Our investment in 2011 marked our entry into the Australian market, and the hospital today plays an integral part in the community. The New Royal Adelaide Hospital is an example of how state-of-the art healthcare infrastructure can improve the provision of essential services to deliver the best healthcare outcomes," said Chief Executive Ben Loomes.
Shares in John Laing were up 0.4% at 313.14 pence in London on Wednesday.
By Zoe Wickens; zoewickens@alliancenews.com
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