John Laing exit from Polish motorway gets pre-empted

Investor in and manager of infrastructure projects John Laing Group updated the market on the disposal of its shareholding in A1 motorway project in Poland on Wednesday, having entered into an agreement to dispose of its 29.69% investment in Gdansk Transport on 4 November.

The FTSE 250 firm had agreed to sell its stake to FS Amber Holdings for €146.9m at the time, and completion of the sale was subject to obtaining various consents and satisfying certain conditions.

“Since that announcement, as a consequence of the exercise of pre-emption rights by a co-shareholder in GTC, NDI Autostrada SP, John Laing has entered into an agreement to dispose of its investment in GTC to NDIA, for the same price and on the same terms as to potential reductions and adjustment to final consideration as previously agreed with FS Amber,” the company’s board said in a statement.

“Completion of the disposal to NDIA is subject to obtaining certain consents and satisfying certain conditions and is expected to occur within the first quarter of 2017.”