• Nine Carillion projects to be taken on by John Laing

    John Laing Infrastructure Fund (JLIF) has confirmed that it plans to replace Carillion on nine facilities management projects.

    Laing, one of Europe’s largest listed investors in public infrastructure projects, said there would be “minimal service disruption” after the collapse of Carillion earlier this month.

    Laing continued that it expects “advisory and transaction costs in respect of the appointment of replacement facilities managers to cost approximately £3 million in aggregate.”

    Banks were forced to pull the plug on Carillion, putting the company into liquidation, with the Government stepping in to guarantee public services provided by the company continuing, ranging from providing school dinners to thousands of children across the country to maintaining road works.

    In a statement, John Laing added: “The company will continue to manage the situation as it develops and provide further updates as appropriate.”

    The value of the nine projects is about 8.5% of the total portfolio value and about 9.6% of its net asset value, claimed JLIF

    In a statement, JLIF said: “The (fund’s) investment adviser believes that the compulsory liquidation of Carillion should have no material impact on the Company and no impact on the company’s dividend policy.”

    AUTHOR

    Stuart O'Brien

    All stories by: Stuart O'Brien

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