KKR buys Britain’s John Laing for around $ 2.84 billion By Reuters

© Reuters. FILE PHOTO: KKR & Co’s trading information is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, United States, August 23, 2018. REUTERS / Brendan McDermid

(Reuters) – Private equity firm KKR said on Wednesday it had agreed to buy British infrastructure investor John Laing Group in a deal valued at around £ 2bn (2.84bn of dollars).

John Laing shareholders will be entitled to receive 403 pence per share in cash, a premium of around 27% over the share’s closing price on May 5, the day before the company confirmed it was in buyout talks with KKR.

John Laing plans to unanimously recommend that shareholders support the deal, the terms of which are considered fair and reasonable, he said.

“KKR is a strong partner, providing long-term capital and global expertise to accelerate John Laing’s strategy,” said Will Samuel, President of John Laing.

“This is particularly relevant in today’s environment where there may be significant opportunities to invest in critical infrastructure that meets the needs of the public.”

(1 USD = 0.7046 pounds)

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