Laing

John Laing Corporate Finance (JLCF) is responsible for primary acquisition and secondary disposal of investments and the raising of new capital for the John Laing Group.

Disposals

JLCF develops long-term strategies for the management of John Laing’s investment portfolio, identifies operational assets for potential future sale, carries out pre-disposal preparation, and manages the execution of disposals.

In November 2010, John Laing plc sold interests in 19 of our yielding PFI/PPP infrastructure assets to the John Laing Infrastructure Fund (JLIF) for a value for £256 million and subscribed for 23.1% of Ordinary Shares in the fund at launch. John Laing will continue to manage the assets on behalf of JLIF. Projects in the acquired portfolio are fully operational and supported by contracted, government-backed revenue streams, with inflation-linked revenues.

Acquisitions

JLCF evaluates acquisition opportunities and carries out due diligence.

In September 2010, John Laing Investments acquired from Shanks Waste Management (the largest listed independent European waste management company) 80% of the shares and 100% of the loan stock in two operational waste management PFI projects known as ELWA (East London Waste Authority) and D&G (Dumfries & Galloway).

Shanks Waste Management continues to operate and maintain all of the facilities as well as continuing the successful relationship with each Council.

Raising funds

JLCF identifies and leads new capital raising initiatives, which includes evaluating and implementing strategic partnership initiatives.

Following a book-building process, in November 2010, the John Laing Infrastructure Fund (JLIF)raised £270 million on its Initial Public Offering (IPO), which attracted strong interest from retail and institutional investors.

JLIF was the 2nd largest Fund IPO on the London market in 2010.

For further information, please contact David Hardy, Managing Director, John Laing Corporate Finance, on: 020 7901 3200.