John Laing to acquire stake in Pacifico 2 road PPP

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John Laing Group plc has announced that it has agreed to acquire a 21.15% interest in the Pacifico 2 road PPP project in Colombia for a total consideration of COP 151 billion (US$ 43.61 million). The Group has agreed to acquire the interest from Construcciones El Condor and the transaction is expected to complete during early 2021 subject to customary conditions.  Following the transaction, the project will be owned by Odinsa (78.85%) and John Laing (21.15%).   

Located 20 kilometers south of Medellin, the second-largest city in Colombia, Pacifico 2 is an availability-based public-private partnership project with an operating concession that runs to 2043.  It includes the construction of a new 82-kilometer dual carriageway and two tunnels, as well an upgrade of 54 kilometers of the existing road. 

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