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John Laing update on sale of stake in A1 project

11 January 2017 07:52

John Laing Group has issued an update on the sale of its shareholding in the A1 motorway project in Poland.

The group announced on 4 November that it had agreed to dispose of its 29.69% investment in Gdansk Transport Company to FS Amber Holdings for €146.9 million subject to certain reductions and adjustments. 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. 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.

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