The board of John Laing Infrastructure Fund (JLIF) has announced that the proposed recommended cash offer pursuant to which a consortium jointly-led by funds managed by Dalmore Capital and Equitix Investment Management will acquire the entire issued and to be issued share capital of JLIF has been approved by the fund's shareholders.
54% of shareholders participated in the vote, and 86% of those voted in favour of the acquisition.
The acquisition remains subject to the sanction of the Court at the Court Hearing and the satisfaction (or, where applicable, the waiver) of the other conditions. Subject to the above, the takeover is expected to become effective on 28 September 2018.
The takeover offer values JLIF's entire issued and to be issued ordinary share capital at approximately GBP1,448 million (US$1.903.67 million). According to the expected timetable, JLIF shareholders will receive their respective portions of the cash consideration by 12 October.