John Laing Group plc (LON: JLG), the international originator, active investor and manager of infrastructure projects, announced today that it has reached agreement with Foresight Group CI Limited for the sale of the Investment Advisory Agreement between John Laing Capital Management Limited (JLCM) and John Laing Environmental Assets Group Limited (JLEN).
Following the acquisition of John Laing Infrastructure Fund Limited in October 2018, the Company has now agreed the sale of its remaining fund management activities by way of a novation of the JLEN Investment Advisory Agreement and transfer of the investment advisory team, following completion of a TUPE process with affected employees, to Foresight Group. This transaction will ensure JLEN receives the focus and investment it requires to support its future growth.
The sale will allow John Laing Group plc to concentrate its focus on the core business of investment in and active management of greenfield infrastructure projects and is expected to complete at the end of June 2019.
