John Laing bolsters PPP credentials with completion of investment in UK assets from HICL Infrastructure PLC

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John Laing Group ("John Laing"), a leading international investor and active manager of core infrastructure assets, announced that it has completed the acquisition of HICL Infrastructure PLC (HICL)’s entire equity interest in four UK PPP projects.

 The operational core infrastructure portfolio assets that have been acquired include:

- The Oxford John Radcliffe Hospital PFI Project, Oxford - A new wing adjacent to the former Radcliffe Infirmary

- The Queens Hospital PFI Project, Romford, Essex - A new hospital at the Queen’s Hospital

- The South Ayrshire Schools PFI Project, Western Coast of Scotland - Three primary schools, two new secondary schools and a new performing arts annex at an existing secondary school

- The Priority Schools Building Programme North East Batch, Tyne and Wear, Northumberland and County Durham - Six new secondary schools and six new primary schools spanning seven local authorities

The fifth asset in the portfolio acquired, the Hornsea 2 Offshore Transmission Owners (OFTO), is currently signed pending regulatory clearance. Acquisition of this asset, which connects the Hornsea 2 offshore windfarm 90km east of the Humber Estuary in North Yorkshire with the UK mainland, demonstrates John Laing’s increasing appetite for opportunities in the growing transmission sector.

Andrew Truscott, Chief Executive of John Laing, said: “It is tremendously exciting to be completing on four of the five assets we agreed to acquire in September 2023. We look forward to working closely and constructively with all asset stakeholders to ensure long term success for these important social infrastructure projects.  We believe that the combination of our PPP expertise and strategy, together with long established credentials in this field, provide the best prospects for successful delivery of major PPP investments.”