John Laing to sell stake in InterCity Express Programme Phase 2 for $545.9 mln

Infrastructure investor John Laing Group said on Friday it would sell its 30% interest in the InterCity Express Programme Phase 2 to infrastructure investment platform AIP Management P/S for 421 million pounds ($545.9 million).

Sept 18 (Reuters) - Infrastructure investor John Laing Group JLG.L said on Friday it would sell its 30% interest in the InterCity Express Programme Phase 2 to infrastructure investment platform AIP Management P/S for 421 million pounds ($545.9 million).

The company said the deal value represents a strong uplift on John Laing's valuation of 333 million pounds as at June 30.

($1 = 0.7712 pounds)

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Anil D'Silva)

((tanishaa.nadkar@thomsonreuters.com; +919730172534; Twitter - @TanishaaNadkar;))

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