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John Laing – Sale of remaining stake in rolling stock project

John Laing Group has announced the sale of its remaining 15% stake in Phase 1 of the Intercity Express Programme (IEP) rolling stock project to AXA SA for GBP 227.5m. Phase 1 of the IEP, which began in 2012, involves a 27.5-year project to build and operate trains for the Great Western line between London and Wales. A second phase of the project involves delivering trains for the East Coast main line between London and Inverness.