John Laing Infra completes purchase of stake in Oldham PPP

John Laing Infrastructure said it has completed the acquisition of a 95% interest in the Oldham Social Housing public private partnership (PPP) project.

The UK project has been fully operational since January 2015 and benefits from an availability-based payment mechanism, John Laing said.

“The combined consideration for the interest in this project and the 100% interest in the British Transport Police project, which completed on 29 February 2016, is approximately £22m,” the company said.

“The £22 million combined consideration formed part of the approximately £150m of UK and Western European PPP assets on which JLIF was in advanced discussions on. The consideration will be funded by drawing on JLIF's £180m multi-currency revolving credit facility which is currently undrawn.”