John Laing acquires stake in Peterborough Hospital

John Laing Infrastructure Fund, the FTSE 250 listed closed-end investment company, has announced the acquisition of a 30 per cent stake in Peterborough Hospital.

John Laing Infrastructure Fund, the FTSE 250 listed closed-end investment company, has announced the acquisition of a 30 per cent stake in Peterborough Hospital.

The purchase - its second this year - was made for a total consideration of £26.7m, in line with the current valuation methodology for similar UK health public-private partnership projects in the group's portfolio.

Peterborough Hospital has been fully operational since 2010 and has a long concession period to 2042, which will extend the average life of the portfolio from 19.6 years (as at December 31st) to 20.1 years.

The acquisition increases the number of health sector investments worldwide to ten and is reflective of the company's confidence in the sector, it said.

David Marshall from John Laing Capital Management, Fund Manager to the company, added: "We are delighted to announce the acquisition of the stake in Peterborough Hospital, which is a high quality operational project.

"We look forward to working with our public sector partners to operate this project in an efficient manner. The acquisition reflects the increasing number of investments in the JLIF portfolio sourced from non-John Laing vendors in the secondary market.

John Laing has now acquired 11 such investments with a combined valuation of approximately £95m and we remain confident of finding further such investment opportunities in the future."

NR

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