Jura Acquisition Ltd, a new company formed by Dalmore Capital and Equitix Investment Management, has been given the go ahead to bid for the entire issued share capital of John Laing Infrastructure Fund in a £1.4 billion plus cash deal. The bid is scheduled to go ahead under a scheme of arrangement under the law of Guernsey where the infrastructure fund is based.
The JLIF board said that it had not received any competing proposals from any third party and that it was not currently in discussions with anyone regarding an alternative bid.
“The board of John Laing Infrastructure Fund confirms that since the Announcement it has not received any competing proposals from any third party potential offerors and is not currently in discussions with any third party regarding a competing proposal,” the company said.
The offer will now go to a special general meeting of JLIF shareholders to be held at St Peter’s Port in Guernsey on Monday 24 September.
Under the terms of the agreement, shareholders would receive 142.5p a share and JLIF shareholders would be entitled to a dividend of 3.57p for each JLIF share for the six-month period ended 30 June.
The joint bid is the second time that Dalmore and Equitix have worked together, having previously joined together to acquire 75% of the equity in the M25 transport public-private partnership project.
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Gunner & Co. work with IFAs looking to sell their business, and can give you more information if you wish – contact louise.jeffreys@gunnerandco.com
