John Laing has appointed investment bank Greenhill to advise on a possible sale or listing
According to the Financial Times, Greenhill was appointed by current owner of John Laing, the fund manager Henderson, earlier this year, to advise on a sale or listing of the infrastructure group, with Henderson seeking to exit from its ownership by 2015.
The FT said John Laing was likely to seek a valuation above its book value, which was £650m in June.
Henderson bought the infrastructure group in 2006 for £887m, but was subsequently sued by 22 pension funds that argued it should have invested directly in infrastructure assets instead.
Greenhill also advised John Laing on the 2006 takeover.
The value of John Laing, which was first listed in 1952, fell sharply during the 2008 financial crisis, because of a widening gap in its pension fund.
The company currently owns stakes in 45 infrastructure projects, including Alder Hey Children’s Hospital in Liverpool.
Following changes to the public investment schemes in the UK, it has sought to focus on energy and transport projects and diversify internationally.
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