Acquisition of pipeline assets

RNS Number : 1044T

Bilfinger Berger Gbl Infrstre SICAV

15 November 2013

 



15 November 2013

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 pipeline assets

Bilfinger Berger Global Infrastructure SICAV S.A. ("BBGI" or the "Company") is pleased to announce that, further to the announcement on 2 October 2013, it has signed an acquisition agreement with Bilfinger Group ("Bilfinger") in relation to the acquisition of interests in 11 pipeline assets for a total consideration of £204 million.

Summary of pipeline assets

Sector	Project	Country		Interest
Availability based Roads	Golden Ears Bridge (remaining interest)	Canada		50.00%
	DBFO-1 Road Service (M1 Westlink)	UK		75.00%
	E18 Motorway	Norway		58.80%
	Ohio River Bridges	US		33.33%
	Southern Way (PenLink)	Australia		33.33%
Education	Lagan College	UK		70.00%
	Tor Bank School	UK		70.00%
Health	Mersey Care Mental Health Hospital	UK			24.5%*
	Womens' College Hospital	Canada			100.00%
Justice	Northern Territories Prison	Australia	50.00%
	Avon & Somerset Police HQ	UK	70.00%

*24.5% equity interest and 40% subordinated debt interest

Six of the pipeline assets are operational and it is expected that two more will become operational during 2014. All pipeline assets are classified as availability-based under the investment policy of the Company.

The acquisition agreement is conditional on the Company raising additional equity capital during Q4 2013 by way of a placing, open offer and offer for subscription of new Shares (the "Issue"), the receipt of third party (including shareholder) consents, regulatory clearance under the Canadian Competition Act, Investment Canada Act and by the Australian Foreign Investment Review Board and certain project specific conditions. The acquisitions are expected to be completed in Q4 2013 and Q1 2014 once all such consents and clearances have been obtained.

The target size of the Issue is expected to be approximately £200 million and a prospectus relating to the Issue is expected to be published later this month. A further announcement giving full details of the Issue will be made at the time of publication of the prospectus.

Further information about BBGI is available on its website at www.bb-gi.com. 

For further information please contact:

BBGI Management Team                [phone]

Frank Schramm

Duncan Ball      

Jefferies Hoare Govett                   [phone]

Gary Gould
Alex Collins

Oriel Securities Limited                  [phone]

Neil Winward
Tom Yeadon

Maitland                                             [phone]

Liz Morley

Important Notice

This announcement is for information purposes only.  This announcement is not a prospectus. This announcement 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 Bilfinger Berger Global Infrastructure SICAV S.A. (the "Company") or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

Any investment decision must be made exclusively on the basis of any prospectus published by the Company and any supplement thereto in connection with the admission of ordinary shares of the Company ("Ordinary Shares") to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities.

Jefferies International Limited and Oriel Securities Limited (together, the Joint Sponsors) each of which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, are acting exclusively for the Company and no-one else in connection with the Issue or the matters referred to in this announcement, will not regard any other person as their respective client in relation to the Issue and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Issue or any transaction or arrangement referred to in this announcement.

 

END

 

 

ACQDBBDBSXBBGXS