(Alliance News) - Infrastructure investor BBGI SICAV SA said Thursday it has made recent investment deals in two Canadian provinces.
The first is for the increase of its interest in the Stanton Territorial Hospital project in Yellowknife, Canada to 50% from 25%.
Stanton is a 27,000 square-metre hospital with 100 patient rooms, and is an asset classified as availability-based under the BBGI's investment policy.
The concession runs until 2048, with payments to be from the government of Northwest Territories. Although contractual arrangements require the exact purchase price to be confidential, it has been confirmed to be less than GBP10 million.
In the second transaction, BBGI alongside its consortium partners was named as the preferred bidder for a motorway project in Canada, which will twin Highway 104 between Sutherlands River and Antigonish in Nova Scotia.
Construction of the project is expected to start in spring, with completion expected in 2023. The concession will run until 2043, with availability payments coming from the government of Nova Scotia. BBGI will have an equity interest of 50% in the project.
The consideration for both interests in Stanton and Highway 104 will be funded from BBGI's existing cash resources and debt facilities.
Shares in BBGI SICAV were down 0.6% at 159.00 pence on Thursday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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