Last checked at 
29 Jul 2015 07:00
29 July 2015
BBGI SICAV S.A.
(the "Company")
Acquisition of two educational PPP projects in UK
BBGI SICAV S.A. (LSE ticker: BBGI) is pleased to announce that it has signed a Sale and Purchase Agreement with John Graham Holdings Limited to acquire 100% of the equity and subordinated debt interests in two educational PPP projects in Northern Ireland, UK.
Belfast Metropolitan College is an educational campus comprising two five-storey teaching facilities and a two-storey engineering facility with associated car parking and a landscaped courtyard.
North West Regional College is a four-storey teaching facility located in Londonderry providing state of the art information, communications and education technology for 1,100 students in the fields of business, computing, tourism and hospitality.
Both projects are operational. The concessions run until August 2027 and January 2026 respectively. BBGI will receive availability payments during the concession periods from the governing bodies of each of Belfast Metropolitan College and North West Regional College.
Frank Schramm, Co-CEO, said: "Having already completed several acquisitions from the Graham Group in the past, we are delighted to secure this opportunity to invest in these high quality projects. Both of these well managed concessions have successful track records of performance and this opportunistic acquisition was made on accretive terms and was concluded without engaging in an auction process."
Duncan Ball, Co-CEO, added: "This acquisition demonstrates our ability to transact quickly and efficiently. BBGI will selectively pursue further growth opportunities in both new and existing assets."
The acquisition price of approximately GBP 11.7 million will be funded from the Company's existing cash resources and drawings from the credit facility. Completion of each transaction is subject to obtaining necessary consents under the projects documents.
For further information, please contact:
BBGI Management Team +352 263 479-1
Frank Schramm
Duncan Ball
BBGI owns a global portfolio of 36 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 *.
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.