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Pin to quick picksBBGI Global Infrastructure Regulatory News (BBGI)

Share Price Information for BBGI Global Infrastructure (BBGI)

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BBGI SICAV S.A. is an Investment Trust

To provide a unique access to a global portfolio of high-quality infrastructure assets which generate stable, predictable cash flows over the life of government or government-backed contracts that typically extend to more than twenty years in length.

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Acquisition

14 Feb 2014 07:00

RNS Number : 0550A
Bilfinger Berger Gbl Infrstre SICAV
14 February 2014
 



14 February 2014

THIS ANNOUNCEMENT IS FOR INFORMATION ONLY AND DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, ANY OFFER FOR SALE OR SUBSCRIPTION OF, OR SOLICITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR, ANY SHARES IN ANY JURISDICTION.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.

Bilfinger Berger Global Infrastructure SICAV S.A.

Acquisition of Further Investments

Bilfinger Berger Global Infrastructure SICAV S.A. ("BBGI" or the "Company") is pleased to announce that it has completed the acquisition of additional interests in three PFI/PPP projects from Assura Group Limited ("Assura"), as previously indicated on 25 November 2013. The interests being acquired include equity and subordinated debt interests in Liverpool & Sefton Clinics, North London Estates Partnerships (formerly known as Barnet & Haringey Clinics) and Mersey Care Mental Health Hospital. The total consideration is approximately £9 million which has been funded from existing cash reserves

· The Liverpool & Sefton Clinic LIFT project is a UK concession to develop, fund, build, operate and manage primary healthcare facilities in Liverpool and Sefton. BBGI acquired 20.0% of the equity interest in the project and 26.1% of the subordinated debt from Assura. BBGI now controls 46.6% of the equity and 52.8% of the subordinated debt.

 

· The North London Estates Partnership LIFT project is a UK concession to develop, fund, build, operate and manage primary healthcare facilities around Barnet, Enfield and Haringey. BBGI acquired 20.0% of the equity interest in the project and 26.7% of the subordinated debt from Assura. BBGI now controls 46.6% of the equity and 53.3% of the subordinated debt.

 

· The Mersey Care Mental Health project involves transforming the former Walton Hospital site in Liverpool into a new, 85 bed, mental health in-patient facility. BBGI acquired 28.6% of the equity and 30.0% of the subordinated debt from Assura. BBGI now controls 66.7% of the equity and 70% of the subordinated debt. The asset is currently in construction although it is expected to become operational during 2014.

All the assets are classified as availability-based under the investment policy of the Company and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.

Frank Schramm, Co-CEO said:

"The acquisitions are accretive and allow us to increase our stakes in these high quality PPP projects at attractive pricing levels."

 

For further information please contact:

BBGI Management Team +352 2634791

Frank Schramm

Duncan Ball

 

Maitland +44 (0)20 7379 5151

Liz Morley

 

BBGI own a portfolio of 27 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).

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQFMGMZVFMGDZM
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