Responsible infrastructure investor and partner John Laing Group PLC (LON: JLG) today issued two positive updates on new stakes it has acquired in two infrastructure projects.
The first announcement detailed the Company’s acquisition of a 30% interest in the Ruta del Cacao road project in Colombia, for aconsideration of £62 million. The second announcement told investors that it had secured a 35% stake in the Hurontario Light Rail Transit PPP project in Canada, for an interest of £13 million.
In its statement, the Company said that it, “is pleased to announce that further to its announcement on 20 August 2019 regarding the agreed acquisition of 30% of the Ruta del Cacao road project in Colombia, all relevant approvals have now been obtained and the acquisition completed on 28 October 2019 for a total consideration of £62 million.”
Speaking on the second announcement, John Laing added, “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 project builds on John Laing’s successful history of investment and delivery of complex rail schemes, including the Denver Eagle commuter rail in USA and Sydney Light Rail in Australia.”
The Group concluded by saying that its total investment commitments to-date totalled £157 million.
The Company’s share price stands at 365.00p per share 29/10/19 15:59 GMT. Analysts from Peel Hunt reiterated their ‘Buy’ stance on John Laing Group stock, the Group’s p/e ratio stands at 5.78 and their dividend yield is 1.48%.
Elsewhere in infrastructure, there have been updates from; Scottish government policy, JLEN (LON: JLEN), Active Energy Group PLC (LON: AEG), Velocys PLC (LON: VLS), AFC Energy plc (LON: AFC), SIMEC Atlantis Energy (LON: SAE), Aquila European Renewables Income Fund (LON: AERI) and PowerHouse Energy Group (LON: PHE).
