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John Laing sells 15% stake in Intercity Express programme phase 2 for £204.3m
StockMarketWire.com
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Infrastructure group John Laing said it sold its 15% stake in Intercity Express programme phase 2, for £204.3 million.
The sale was part of the company's plan to sell its 30% stake in Intercity Express programme phase 2.
The remaining 15% stake to be sold over the next 12 months, generating a further £203.4 million, plus interest, calculated at a rate of 7% per annum, potentially generating up to £218.5 million in total.
'To date in 2020, we have announced the sale of 12 investments for gross proceeds of approximately £448 million (excluding the second stage of the IEP East transaction), of which £292 million of proceeds have been received,' the company said.
At 8:25am: (LON:JLG) John Laing Group PLC share price was +1.7p at 294.5p
Story provided by StockMarketWire.com
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