Completion of disposal of 30% shareholding in M6 Hungary road project for €26.2 million
John Laing Group plc (“John Laing”), the international originator, active investor and manager of infrastructure projects, announces the completion of the disposal of its 30% shareholding in MAK Mecsek Autopálya Koncessziós Zrt., the operator of part of the M6 road in Hungary, for cash consideration of €26.2 million, adjusted for both a distribution received by John Laing after the sale was agreed, and interest accrued on the consideration (before costs).
The sale was originally agreed in December 2016. However, following the exercise of pre-emption rights by co-shareholders in the project company, STRABAG AG and Intertoll-Europe ZRT, new sale and purchase agreements were entered into on 1 February 2017; completion under those agreements has now taken place.
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