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13 Jun 2019 07:00
13 June 2019
BBGI SICAV S.A.
(the "Company")
Acquisition of further interest in a road PPP project in the Netherlands
BBGI SICAV S.A. (LSE ticker: BBGI), the global PPP infrastructure investment company, is pleased to announce that it has completed the acquisition of a further equity interest in the A1/A6 PPP road project in the Netherlands. The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a 18 km motorway including reversible lanes. The project became operational in 2017 and the concession runs until 2042.
The Company has acquired two significant project interests over the last month being the 33.3% interest in the Ohio River Bridges - East End Crossing PPP Project, which was announced on 16 May 2019; and its interest in this A1/A6 project. The combined consideration payable by the Company for both projects is approximately GBP 58 million, which will be funded from the Company's existing cash resources and drawings under its credit facility.
Frank Schramm, Co-CEO commented:
"We are delighted to increase our equity interest in this high quality, stable, operational, road PPP project in the Netherlands. This acquisition further strengthens the global footprint of our porfolio of investments in AAA/AA rated countries. Given our existing involvement with this project, no additional management resources will be needed to oversee the incremental investment, helping to contribute to BBGI's low on-going charge."
Duncan Ball, Co-CEO added:
"The acquisition was made on accretive terms. This transaction follows our purist approach to investing in low risk, availability-based projects."
For further information, please contact:
BBGI Management Team +352 263 479-1
Duncan Ball
Frank Schramm
BBGI owns a global portfolio of 48 infrastructure assets. These are PPP 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 *.
The Company's LEI is: 529900CV0RWCOP5YHK95
Any reference to the Company or BBGI refers also to its subsidiaries (where applicable).
* Neither the Company's website nor the content of any website accessible from hyperlinks on its website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.
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