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Infrastructure investor John Laing in talks with KKR for potential takeover supply By Reuters 



© Reuters. FILE PHOTO: Buying and selling data for KKR & Co is displayed on a display on the ground of the New York Inventory Trade (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

(Reuters) -John Laing Group mentioned on Thursday it was in talks with KKR & Co (NYSE:) Inc concerning a potential takeover supply from the non-public fairness agency, sending the UK-based infrastructure investor’s shares up greater than 18%.

John Laing, initially into development earlier than shifting to investing in and managing greenfield infrastructure tasks worldwide, mentioned the deadline for KKR to announce a agency intention to make a suggestion was June 3.

KKR didn’t instantly reply to Reuters’ request for a remark.

Shares of John Laing jumped as a lot as 18.5% to 376.4 pence, their highest degree since January 2020, valuing the agency at about 1.86 billion kilos ($2.59 billion).

In March, the corporate reported a loss earlier than tax of 65 million kilos for the yr ending Dec. 31, 2020, in contrast with a lack of 95 million kilos a yr earlier, whereas internet asset worth per share slipped to 310 pence from 337 pence.

Final month, John Laing and Macquarie Capital mentioned they’d make investments 200 million kilos in retirement houses developed by McCarthy Stone to assist handle the undersupply of aged lodging in Britain.

($1 = 0.7195 kilos)

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