Announces completion of Victoria Prisons

RNS Number : 5729Y

Bilfinger Berger Gbl Infrstre SICAV

02 March 2012

 



For immediate release                                                                                                               

2 March 2012

BBGI announces the completion of Victoria Prisons, the second of its Australian seed portfolio assets for £35.9 M

Bilfinger Berger Global Infrastructure SICAV S.A. (ticker "BBGI"), which listed on the London Stock Exchange on 21 December 2011, is pleased to announce that it has completed the acquisition of Victoria Prisons, a PFI/PPP project from Bilfinger Berger Project Investments for approximately £35.9 million.

Victoria Prisons will be 100% held by BBGI and will comprise 17.4% of the portfolio. Justice represents 20.8% of the initial seed portfolio.

Victoria Prisons are two prisons located near Melbourne. They comprise a 300 bed men's high security Marngoneet Correctional Centre ("MCC"), and a 600 bed men's maximum security Metropolitan Remand Centre ("MRC"). The MCC acts as Victoria's major intensive treatment facility for male prisoners, offering treatment programmes aimed at promoting rehabilitation, reducing repeat offending and preparing prisoners for transition back into the community

Frank Schramm Co-CEO of BBGI said

"This acquisition completes our portfolio in Australia. We previously announced the acquisition of Royal Women's Hospital also in the state of Victoria. Our seed portfolio contains a well-diversified mixture of social infrastructure projects and road projects."

The acquisitions of the remaining seed portfolio projects are expected to be completed during March 2012 following which BBGI will own the 19-asset portfolio outlined in the IPO prospectus. The assets are all operational 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. 

For further information please contact:

BBGI Management Team             [phone]

Duncan Ball
Frank Schramm

Maitland                                          [phone]

Liz Morley
Andrea Coleman

 

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