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John Laing Group plc (JLG)

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Monday 16 March, 2020

John Laing Group plc

Divestment Update

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

 

[email protected]

 

 

 


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