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2 May 2012 10:09
For immediate release
2nd May 2012
BBGI announces the acquisition of additional stakes in two assets for £2.5 million
Bilfinger Berger Global Infrastructure SICAV S.A. (ticker "BBGI") is pleased to announce that it has signed contracts for the acquisition of further equity interests in two PFI/PPP projects from Graham Investment Projects Limited for an aggregate cash consideration of approximately £2.5 million. The interests are a further 16.66% stake in East Down Colleges and a further 50% stake in Lisburn Colleges, both in Northern Ireland. The acquisition brings BBGI's stake in East Down Colleges and Lisburn Colleges to 66.66% and 100% respectively.
The acquisition is conditional on, inter alia, third party consents and is expected to be completed by August 2012. The projects are both operational and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.
David Richardson, Chairman said "We are very pleased to be acquiring further stakes in these two high quality educational establishments. The additional investment provides BBGI with effective control of the projects and is expected to add value to BBGI on completion."
Further information about BBGI is available on its website at www.bb-gi.com.
For further information please contact:
BBGI Management Team +352 2634791
Frank Schramm
Duncan Ball
Maitland +44 (0)20 7379 5151
Liz Morley
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