AUSTRALIA: John Laing Group has agreed to acquire pension investor Aware Super’s 62·5% stake in Sydney light rail finance, design, build and operating PPP concessionaire ALTRAC.
The deal is expected to complete by the end of Q4, taking John Laing’s stake from 32·5% to 95%. The remaining stake is owned by Acciona Concesiones.
‘Our increased stake reflects our commitment to Sydney Light Rail, which is one of our most highly regarded assets’, said John Laing CEO Andrew Truscott on September 5.
Aware Super’s Head of Infrastructure Mark Hector said ‘now that Sydney Light Rail is functioning well, the time is right for us to recycle that capital into other value-add infrastructure projects for the benefit of our members and society. ’
John Laing was advised by King & Wood Mallesons and Deloitte.
