John Laing invests in electric bus concessions

John Laing Group, a leading international investor and active manager of core infrastructure assets, announced today that it has agreed to acquire two electric bus concessions in Bogotá, Colombia: the Electribus Bogotá Fontibón II concession and the Electribus Bogotá USME I SAS ( together “Electribus”)

John Laing Group (“John Laing” or the “Group”), a leading international investor and active manager of core infrastructure assets, announced today that it has agreed to acquire two electric bus concessions in Bogotá, Colombia: the Electribus Bogotá Fontibón II concession and Electribus Bogotá USME I SAS concession (together “Electribus”).

John Laing acquires the concessions of Somos K, Fondo Ashmore Andino II – FCP and Ashmore Andean Fund II, LP (Canada). The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions.

Electribus is an availability-based public-private partnership project with concessions running until 2035 and 2036 respectively. The concessions will supply a total of 259 electric buses to Transmilenio, Bogotá’s public transport authority, and will be operated under a separate contract by Somos, a Colombian public transport company.

Ben Loomes, Chief Executive of John Laing Group, commented:

“Electribus was one of Bogota’s first fleets of electric buses. The city is committed to the electrification of transportation and now has more than 1,400 electric buses, which is currently the largest electric bus fleet of all cities in Latin America. This investment builds on our track record of successfully collaborating with local governments on transportation projects with international partners.”

SOURCE: John Laing

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