John Laing's Aussie wind assets await bids from First Sentier, ENEOS - report

The Aussie wind farm portfolio of John Laing Group Plc (LON:JLG) has ignited a bidding war between Australian fund manager First Sentier and Japan’s ENEOS Holdings (TYO:5020), the Australian Financial Review (AFR) reports.

After placing initial bids for the UK infrastructure investor’s wind assets Down Under, the two firms have been given time to review their offers and potentially upsize them, according to the Street Talk column, citing unnamed sources. The report says the third bidder, Australia’s Infrastructure Capital Group (ICG), did not make it to the final round of bidding.

John Laing is the owner of the 57.6-MW Cherry Tree and the 31-MW Kiata wind farm in Victoria and also has a minority shareholding in the 112-MW Granville wind farm in Tasmania, it says on its website. Additionally, it has invested in the three stages of the 316.8-MW Hornsdale project of France’s Noen in South Australia.

The UK firm has hired Macquarie Capital Ltd (ASX:MQG) to find buyers for its wind and solar assets but the latter were pulled out from the announced bundle. The sale was initiated in January.

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