First State European Diversified Infrastructure Fund FCP-SIF of First State Investments (UK Holdings) Limited cancelled the acquisition of 29.69% stake in Gdansk Transport Company S.A from John Laing Group plc.

First State European Diversified Infrastructure Fund FCP-SIF of First State Investments (UK Holdings) Limited entered into an agreement to acquire 29.69% stake in Gdansk Transport Company S.A from John Laing Group plc (LSE:JLG) for approximately €150 million in cash on November 4, 2016. The consideration of €146.9 million of which approximately €2.2 million may be deferred may be reduced by the amount of any dividend or other distribution paid or declared by GTC after the date of this announcement which is retained by John Laing. The final consideration is also subject to certain adjustments which could result in an increase of up to €1.7 million or a reduction of no more than €4.5 million. As at December 31, 2015, the gross assets of GTC were £1.5 billion (€2.1 billion) and net profit for the year then ended of £29 million (€39.3 million). Completion of the disposal is subject to obtaining various consents and satisfying certain conditions and is not currently expected to occur until the first quarter of 2017. Sandra Rafferty, Pamela Grieve, Henry Wood, Steven Hodgkins, Ruth Jones, Sam Dames, Jonathan Dames, Thomas Bishai, Stephanie Flynn, Laura Allner, Graham Paul, Louise Boswell, David Bridge, Satyen Dhana, Sharon Skipper, Iga Lis, Marek Sawicki, Andrzej Posniak, Ewa Stykowska, Izabela Gebal, Tomasz Zwolinski, Jakub Rachwol and Agnieszka Wierzbicka of CMS acted as legal advisor to John Laing Group plc. Conversion for financials was done through www.oanda.com as of December 31, 2015. First State European Diversified Infrastructure Fund FCP-SIF of First State Investments (UK Holdings) Limited cancelled the acquisition of 29.69% stake in Gdansk Transport Company S.A from John Laing Group plc (LSE:JLG) on January 11, 2017. As a consequence of the exercise of pre-emption rights by a co-shareholder in GTC, NDI Autostrada SP. Z.O.O. ("NDIA"), John Laing has entered into an agreement to dispose of its investment in GTC to NDIA, for the same price and on the same terms as to potential reductions and adjustment to final consideration as previously agreed with First State Investments.