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John Laing sells Swedish wind farm for €8.9m; lines up larger special dividend
StockMarketWire.com
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Infrastructure investor John Laing said it had completed the sale of its Swedish wind farm, Rammeldalsberget, to Slitevind AB for €8.9 million before disposal costs, equivalent to approximately £7.6 million.
The sale value represented an 8% uplift to John Laing's book value for the asset at 31 December 2020.
The sale of the project was 'consistent with the group's strategy to realise these types of secondary assets and re-invest the proceeds in new opportunities in greenfield projects and in economic infrastructure businesses and platforms,' the company said.
This sale proceeds would bolster the 2021 special dividend proposal, which now amounted to approximately £358 million, consisting of 'expected proceeds from this sale as well as the sales of the Australian wind farm portfolio that completed last week and the second stage of IEP East divestment expected to complete later in the year,' it added.
Story provided by StockMarketWire.com
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