John Laing Group completes investments in Colombia and Canada
Updated : 12:09
International infrastructure investor John Laing Group announced on Tuesday that, further to its update on 20 August regarding the agreed acquisition of 30% of the Ruta del Cacao road project in Colombia, all relevant approvals had now been obtained.
The FTSE 250 company said that as a result, the acquisition completed on 28 October for a total consideration of £62m.
Separately, John Laing said it had invested £13m for a 35% interest in the Hurontario Light Rail Transit public-private partnership project in Canada, which recently reached financial close.
“Hurontario LRT consists of an 18km line connecting municipalities in the Greater Toronto and Hamilton Area and will improve connectivity within and between the two districts,” the John Laing board said in its statement.
“The project builds on John Laing's successful history of investment and delivery of complex rail schemes, including the Denver Eagle commuter rail in [the] US, and Sydney Light Rail in Australia.”
As a result of the two investments, John Laing said total investment commitments to date was now £157m.
As at 1204 GMT, shares in John Laing were up 0.47% at 366.71p.