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JLIF to take stake in IEP project

21 December 2016 07:54

John Laing Infrastructure Fund has agreed to acquire an indirect 6% minority shareholding in the Intercity Express Programme Phase 1 project, from John Laing Investments Limited.

The total consideration for the acquisition will be approximately £42.4 million, which will be financed by drawing on JLIF's revolving credit facility.

Completion of the transaction is subject to completion of certain formalities and expected to be in early 2017.

The IEP project, which is still in the construction phase, involves the provision of 57 new high speed intercity trains to be deployed on the Great Western Mainline.

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Related Company: JLIF

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