John Laing Group has completed the first stage of its Intercity Express Programme Phase 2 (IEP East) stake sale.
The firm has sold a 15% stake in the project to AIP Management for approximately £204m. Within the next year, a further 15% stake will be sold to AIP, completing John Laing’s divestment from them project.
IEP East is an operational PPP which provides rolling stock for the East Coast Mainline rail network.
As previously reported, John Laing’s chief executive, Ben Looms, said that the future of investment in infrastructure remains “stronger than ever” and that the firm will be “ideally placed to capitalise on the opportunities that lie ahead of us”.
Excluding this deal, John Laing has sold 12 investments in 2020 so far, totalling £448m.