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17 Jun 2015 07:00
17 June 2015
BBGI SICAV S.A.
(the "Company")
Acquisition of further interest in
Avon & Somerset Police HQ PPP Project in the UK
BBGI SICAV S.A. (LSE ticker: BBGI) is pleased to announce that it has signed and completed a Sale and Purchase Agreement with Galliford Try Corporate Holdings Limited to acquire a further 30% equity interest in the Avon & Somerset Police HQ PPP Project in the UK.
The asset consists of four police buildings (an operation base, two custody and crime investigation centres, and a tri-forces firearms training centre).
The concession term runs until March 2038. BBGI will receive availability payments during the concession period from the Avon & Somerset Police Authority.
Frank Schramm, Co-CEO said:
"Having first invested in this high quality PPP project in 2014, we are delighted to secure this opportunity to further increase our stake. This acquisition was made on accretive terms and was concluded without engaging in an auction process."
Duncan Ball, Co-CEO said:
"This acquisition demonstrates our ability to efficiently add value by acquiring stakes in existing projects where our knowledge of the asset serves us well. BBGI will selectively pursue further growth opportunities in both new and existing assets."
The acquisition will be funded using the Company's existing cash resources.
For further information, please contact:
BBGI Management Team +352 263 479-1
Frank Schramm
Duncan Ball
Maitland +44 (0) 20 7379 5151
Liz Morley
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.
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