Announcement of Sale of Llynfi Wind Farm, in Wales, investment and increased realisation level for 2017
John Laing Group plc, the international originator, active investor and manager of infrastructure projects, announces that it has agreed and completed the sale of its 100% investment in Llynfi Wind Farm in Wales to John Laing Environmental Assets Group Limited and that it is increasing its level of realisations for 2017.
The consideration, which is in line with the most recent portfolio valuation, is £43 million (before costs).
As a result of the above realisation, together with realisations already announced in the year to date of £256 million, the Group's total realisations announced in 2017 amount to £299 million. No further realisations are expected in 2017.
Olivier Brousse, John Laing's Chief Executive Officer, said:
"We are pleased to announce a further disposal as we continue to take advantage of strong demand for operating assets in order to fund our pipeline of attractive investment opportunities. As re-iterated in our pre-close update last week, our special dividend is based on realisations, and these are well ahead of the guidance of approximately £200 million we gave earlier in the year."
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