John Laing plc acquires interests in PPP projects
February 02, 2007
On February 2, 2007, affiliates of John Laing plc acquired the indirectly held interests of Macquarie Bank Limited in the Vancouver General and Abbotsford Hospital public-private partnership (P3) projects. Under the purchase agreements, John Laing acquired an interest in two entities: Access Health Abbotsford, the company selected to design, build, finance and maintain the new C$355 million Abbotsford Regional Hospital and Cancer Centre, and Access Health Vancouver, the company selected to design, build, finance and maintain the C$95 million Gordon and Leslie Diamond Health Care Centre at Vancouver General Hospital. The total value of the transaction was C$75 million.
John Laing Group plc is a British developer and operator of privately financed, public sector infrastructure projects such as roads, railways, hospitals and schools through Public-Private Partnership and Private Finance Initiative arrangements.
McCarthy Tétrault LLP advised John Laing with a team that included Randal Huges and Oliver Borgers.