John Laing has picked up the Electribus concessions in Bogotá, Colombia.
The Electribus Bogotá Fontibón II and Electribus Bogotá USME I concessions were acquired from Somos K, Fondo Ashmore Andino II – FCP and Ashmore Andean Fund II.
Across the two concessions, which will run until 2035 and 2036 respectively, more than 250 electric buses are supplied to the Transmilenio, the public transport authority of Bogotá, and are operated by Somos.
Ben Loomes, chief executive officer at John Laing, said the investment “builds on our track record of working successfully with local government authorities on transport projects with international partners".
The transaction is expected to close later this quarter.
Last year, investment giant KKR, along with Equitix, completed the takeover of John Laing for $2.7bn.