Mourant advises John Laing Infrastructure Fund Limited on £1.45 billion takeover
28 September 2018
Mourant Ozannes has advised long-standing FTSE250 client, John Laing Infrastructure Fund Limited (JLIF), on its takeover by Jura Acquisition Limited (Jura). It is the largest public M&A transaction in Guernsey so far in 2018.
Jura is a newly-formed special purpose company owned by a consortium led by funds managed by infrastructure investors Dalmore Capital Ltd and Equitix Investment Management Ltd, who collectively manage more than £7 billion of global infrastructure assets. The takeover was undertaken by way of a Guernsey scheme of arrangement and was sanctioned by the Royal Court in Guernsey on Friday 28 September 2018.
Partner, Darren Bacon, said: "This transaction delivers an attractive premium for shareholders and, having acted for JLIF since it was established, we are proud to have been involved in this final chapter of its journey. As the largest M&A deal this year to date, it is an encouraging development for the Guernsey market and a strong endorsement of our market leading M&A team."
The transaction values JLIF at £1.45 billion and the cash offer price under the Scheme represented a premium of approximately 24% on the company's last closing price of 118.2p on July 13 2018, the last day before the commencement of the offer period.
Guernsey Partners and Advocates Darren Bacon and Abel Lyall led the team advising JLIF, with Counsel Alex Davies, Advocate Chantal Barrett and Associate Peter Callus. JLIF was also advised by CMS Cameron McKenna Nabarro Olswang LLP in London.