John Laing Group plc ("John Laing" or "the Group"), the international active investor and partner behind responsible infrastructure, is pleased to announce that it has completed the sale of its 30% interest in Auckland South Corrections Facility to AMP Capital for a price in-line with the Group's latest valuation.
This 960-place correctional facility in Auckland, New Zealand has an innovative approach to the education, rehabilitation and reintegration of offenders into the community, operating a results-focused model, with the aim of reducing recidivism rates.
Luciana Germinario, John Laing's Chief Financial Officer, commented:
'We are proud to have worked with the New Zealand government on this flagship project to use public-private partnerships to drive measurable social change. Following recent disposals in the US and France, we are pleased to have made further progress with our divestment programme. We have a strong pipeline of high-quality assets becoming available for sale over the next 12 months, including IEP East and our Australian wind and solar portfolio. While the impact of recent events on secondary markets remains to be seen, our strong balance sheet gives us flexibility and leaves us well positioned to maximise value.'