Acquisition

RNS Number : 9012V

Bilfinger Berger Gbl Infrstre SICAV

19 December 2013

 



19 December 2013

Bilfinger Berger Global Infrastructure SICAV S.A.

("BBGI" or the "Company")

BBGI announces the completion of the acquisition of two Canadian PPP/ PFI Projects

Bilfinger Berger Global Infrastructure SICAV S.A. (ticker "BBGI") is pleased to announce that it has completed the acquisition of the remaining 50% equity and loan note interest in Golden Ears Bridge, and 100% equity and loan note interest in Women's College Hospital.

Golden Ears Bridge project is a long term PPP concession contract to operate and maintain the Golden Ears Bridge near Vancouver, British Columbia, Canada. The project opened to the public in June 2009. The bridge itself is a 1 km, six-lane road that spans the Fraser River. The rest of the scheme consists of more than 3.5 km of structures including ramps, viaducts, minor bridges and underpasses and more than 13 km of mainline roadway. The concession expires in 2038 and is availability-based with no volume risk.

Women's College Hospital Project is a long term PPP concession contract to design, build, finance and operate the new Women's College Hospital in Toronto, Ontario, Canada. The project is being delivered in two phases. The first phase became operational in May 2013 and partial payments from the health authority started at that time. Full operations are expected March 2016. The concession expires in 2043 and is availability-based with no volume risk.

The acquisitions were funded from the Company's existing cash resources following the recent £145 million capital raise which completed on 11 December 2013.

Frank Schramm, Co-CEO said:

"We are delighted to complete the transfer of these two high quality PPP/PFI assets. This follows the recent announcements of the proposed acquisitions of 10 Pipeline Assets on 15 November 2013 and the successful capital raise in December to finance the acquisitions."

Duncan Ball, Co-CEO said:

"The acquisitions are consistent with our strategy of focusing on high quality PPP/PFI assets in with strong government counterparties. We are very pleased to be increasing our portfolio in Canada and have acquired interest in four Canadian projects in 2013. Our Canadian portfolio now consists of six assets."

For further information please contact:

BBGI Management Team       [phone]

Duncan Ball      

Frank Schramm

Maitland                                    [phone]

Liz Morley

BBGI own a portfolio of 23 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).

 

END

 

 

ACQZMMMZKRNGFZM