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9 Jun 2014 07:00
9 June 2014
BBGI SICAV S.A.
BBGI announces the completion of the acquisition of the M1 Westlink PPP project in Belfast, UK
BBGI SICAV S.A. (LSE ticker: BBGI) is pleased to announce that it has completed the acquisition of 100% equity and loan note interests in DBFO -1 Road Service ("M1 Westlink") pursuant to both the Sale and Purchase Agreement with Bilfinger Group, as announced on 15 November 2013, and the Sale and Purchase Agreement with Graham Investment Projects Limited, as announced on 4 December 2013.
M1 Westlink is a long term concession to design, upgrade, finance and operate the M1 Westlink road scheme in Belfast, UK. The project commenced in April 2006 and required a significant amount of construction work to upgrade key sections of the existing road network. This consisted of approximately 60km of motorway and a short section of linking dual carriageway through the heart of Belfast. The project was completed approximately six months ahead of schedule in November 2009. The concession expires in 2036 and is availability-based with no volume risk.
The acquisition was funded from the Company's existing cash resources following the £145 million capital raise which completed on 11 December 2013.
For further information please contact:
BBGI Management Team +352 2634791
Duncan Ball
Frank Schramm
Maitland +44 (0) 20 7379 5151
Liz Morley
BBGI own a portfolio of 35 infrastructure assets. These projects are PPP / PFI assets and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.
Further information about BBGI is available on its website at www.bb-gi.com.
Any reference to the Company or BBGI refers also to its subsidiaries (where applicable).
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