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BBGI SICAV Raises Interest In US Bridge Construction Project To 67%

Thu, 16th May 2019 12:51

LONDON (Alliance News) - Infrastructure investment company BBGI SICAV SA said Thursday it has increased its stake in the Ohio River Bridges - East End Crossing private-partnership project to 67%.

The US infrastructure project was first opened to the public on schedule in December 2016, with the objective of constructing a 762-metre cable-stayed bridge over the Ohio River, thus connecting the US state of Kentucky to Indiana.

BBGI SICAV did not disclose how much it paid to up its equity interest from 33% to 67%, but said it would be funding this through its existing cash resources and credit facility.

"Ohio River Bridges is now one of the largest investments in our portfolio and we are delighted to have been able to increase our holding in this high quality, stable, operational US PPP project. Having been involved in the project from construction and then into operation, we know the asset well and have been very pleased with the performance to-date," said co-Chief Executive Officer Duncan Ball.

Shares in BBGI SICAV were up 0.3% at 157.50 pence on Thursday.

By Dayo Laniyan;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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