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John Laing ups stake in Barcelona Metro project

Thu, 05th May 2016 12:07

(ShareCast News) - John Laing Infrastructure Fund has entered into an agreement with Acsa, a member of the Sorigue Group, to acquire an additional 13.5% interest in the Barcelona Metro Stations Line 9 Section II project.The FTSE 250 infrastructure investment group's existing 40% stake in Section II was bought back in January from a subsidiary of Grupo ACS.The aggregate consideration for the two investments, which are expected to complete over the coming weeks, is approximately £50m. This will be funded through John Laing's currently undrawn £180m multi-currency revolving credit facility.The company said the acquisitions further consolidate its entry into the Spanish public private partnership market and increase the total number of assets in its portfolio to 60.Andrew Charlesworth from John Laing Capital Management, investment adviser to John Laing, said: ""JLIF is pleased to have furthered its presence in the Spanish market and to have done so via an exclusive process based on a relationship with a co-shareholder."We would like to thank Acsa for their efforts in reaching this agreement and for ensuring that the transaction completed in an efficient manner."At 1220 BST, John Laing shares were up 0.8% to 213.70p.
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22 Jan 2015 08:24

UK MORNING BRIEFING: Royal Mail, RSA Lead Gains Ahead Of ECB Meeting

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22 Jan 2015 07:56

John Laing Infrastructure Fund Buys Rest Of Kirklees Project

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20 Jan 2015 11:07

UPDATE: Balfour Nets Harrison As Finance Chief, Still Seeking Chairman

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19 Jan 2015 17:00

MARKET COMMENT: UK Stocks Drift Higher As Investors Await ECB Move

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19 Jan 2015 06:37

PRESS: John Laing Set For GBP1 Billion Flotation - Telegraph (ALLIPO)

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22 Dec 2014 07:28

London pre-open: Positive start expected to shortened Christmas week

UK stocks are set to jump strongly when markets open on Monday morning, extending their recent winning streak into a fifth straight day ahead of a shortened trading week. City sources predict the FTSE 100 will open 50 points higher than Friday's close of 6,545.27. The index surged 4% over the past

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22 Dec 2014 07:05

JLIF seals £21.6m purchase of John Laing assets

Infrastructure investment firm John Laing Infrastructure Fund has completed the acquisition of two assets from John Laing for a combined value of £21.6m. The fund has taken receipt of an 80% stake in the Kirklees Social Housing project and a 50% stake in the Surrey Street Lighting project, bringing

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5 Dec 2014 17:17

UPDATE 2-Balfour rejects $1.6 bln John Laing Fund offer for public-private assets

* Balfour says bid from JLIF undervalues assets * JLIF questions basis of Balfour's valuation * Balfour shares close up 5.9 pct (Adds JLIF comment, analyst comment, share price) By Neil Maidment and Sarah Young LONDON, Dec 5 (Reuters) - British infrastructure group Balfo

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5 Dec 2014 09:51

Investec labels Balfour Beatty's rejected PPP bid a 'brave move'

Balfour Beatty's rejection of a £1bn bid for its public-private partnership (PPP) portfolio was a "brave move" by management, according to analysts at Investec. Balfour said on Friday that the recent bid from John Laing Infrastructure Fund (JLIF) "falls significantly short of its own view of the val

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5 Dec 2014 07:14

Balfour rejects $1.6 bln John Laing Fund offer for PPP assets

LONDON, Dec 5 (Reuters) - British infrastructure group Balfour Beatty said on Friday it had rejected a 1 billion pound ($1.6 billion) offer from John Laing Infrastructure Fund for its public-private partnership assets. The non-binding proposal, which was made on Monday, fell significantly s

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1 Dec 2014 11:15

UPDATE 2-John Laing fund makes $1.6 bln offer for Balfour assets

* Infrastructure group offers to buy Balfour's PPP assets * Balfour shares up over 4 percent * Separately Kier in talks to buy Mouchel (Adds analyst, source comments, shares) By Paul Sandle LONDON, Dec 1 (Reuters) - Britain's John Laing Infrastructure Fund had made a 1 b

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1 Dec 2014 10:20

Canaccord Genuity questions bid price for Balfour's PPP portfolio

The £1bn potential bid by John Laing Infrastructure Fund for Balfour Beatty's public-private partnership (PPP) portfolio will test the latter's new boss, according to analysts at Canaccord Genuity. They labelled the price a "significant lump of cash", but said that £1bn for the portfolio was a "fire

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1 Dec 2014 09:05

BUZZ-Balfour Beatty: brokers bearish despite bid for PPP portfolio

** Balfour Beatty boosted by John Laing Infrastructure Fund's 1 bln pound ($1.6 bln) cash bid for co's portfolio of public-private partnership assets ** Shares up 4.8 pct at 2-month high & second-top risers on STOXX Europe 600 ** Bid spec has intensified around BB which has been hit b

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1 Dec 2014 07:59

John Laing considers making £1bn offer for Balfour Beatty portfolio

John Laing Infrastructure Fund (JLIF) has announced that it is planning to make a non-binding proposal to the board of Balfour Beatty for its public-private partnership portfolio for around £1bn in cash. JLIF said that if it decides to go ahead with the offer, it plans to finance the acquisition lar

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1 Dec 2014 07:15

John Laing Fund makes 1 bln stg offer for Balfour assets

LONDON, Dec 1 (Reuters) - John Laing Infrastructure Fund on Monday offered to buy Balfour Beatty's portfolio of public-private partnership assets, in sectors like education and health, for 1 billion pounds ($1.6 billion) in cash. JLIF said it would fund the deal by issuing shares. T

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