23rd Dec 2015 09:27
LONDON (Alliance News) - John Laing Infrastructure Fund Ltd on Wednesday said it has struck a deal with Iridium Concesiones de Infraestructuras to acquire an effective 40% stake in the Barcelona Line 9 Section II metro project in Spain.
The Line 9 portion of the metro runs directly through the middle of Barcelona and connects the airport and the port district.
The consideration of the acquisition is expected to be around GBP85.0 million and will be funded through the company's existing revolving credit facility.
The investment is the first made by John Laing Infrastructure Fund in the Spanish public-private partnership market and will bring the total number of assets in its overall portfolio to 58.
Shares in the fund were down 0.4% to 117.4 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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