Manchester Waste Update

Manchester Waste

This update is given further to the statement issued on 24 August 2017 which reported that legally-binding heads of terms had been entered into between the Greater Manchester Waste Authority (GMWDA), Manchester Waste VLCo (VLCo), and its shareholders, John Laing and Viridor. The transactions contemplated under these heads of terms, including the acquisition of VLCo by the GMWDA, have now completed. As part of the transactions, the project finance underlying the two Manchester Waste projects has been repaid.

The financial impact on John Laing remains as set out in the statement dated 24 August 2017.