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Bilfinger Berger, John Laing, Johann Bunte consortium secures financial close on Germany’s largest PPP

Monday, July 14, 2008

The A1 mobil Consortium, comprising Bilfinger Berger, John Laing and Johann Bunte has reached Financial Close on the PPP project to design, build and widen, finance and operate the A1 Motorway between Bremen and Hamburg in Germany (part of the A-Modell pilot schemes). The project is the largest PPP project awarded in Germany to date with an investment volume of €650m. Financial Close was achieved on 10 July only 30 days after Contract Award.

Bilfinger Berger Project Investments and John Laing each have a share of 42.5% in the A1 mobil Consortium, with Johann Bunte taking 15%. The Consortium was advised by Linklaters (legal) and Macquarie (finance).

The MLA group underwriting of nearly €600m of senior debt consists of Unicredit, Caja Madrid and DZ BANK. Unicredit is acting as Coordinating MLA and Coordinating Bookrunner. Syndication is scheduled to commence after the summer. Allen & Overy was acting as legal counsel to the lenders.

The Contract Award announcement was made by the Traffic Authority of the State of Lower Saxony working on behalf of the Federal State of Niedersachsen representing the government of the Federal Republic of Germany on 10 June.

ENDS

For further information please contact:
Matthew Moth/Charles Reynolds, Madano Partnership
Tel: +44 (0) 20 7593 4000

Christine Jones at John Laing plc
Tel: +44 (0) 20 7901 3290

Notes to Editors:

About John Laing
John Laing plc is a specialist provider of facilities through public private partnerships with a long-term perspective and approach. The company manages and delivers 61 projects from planning and funding through to design, construction and operation. It is actively involved in the management of a wide range of health, education, police, rail, roads and special purpose government facilities, both in the UK and internationally. http://www.laing.com/