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John Laing sells stake in New Royal Adelaide Hospital
StockMarketWire.com
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Infrastructure company John Laing said it had completed the sale of its 17.26% stake in the New Royal Adelaide Hospital to funds managed by AMP Capital.
The amount received for the sale represented a 'good uplift to John Laing's book value of £69 million as at 31 December 2020,' the company said.
John Laing invested in the New Royal Adelaide Hospital in 2011, marking the group's entry into the Australian public private partnership market.
NRAH was delivered by Celsus, a consortium in which John Laing held a 17.26% share
'This transaction also accelerates and crystalises NAV accretion, some of which was due over the course of the rest of 2021, and further de-risks the portfolio,' it added.
Story provided by StockMarketWire.com
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