Acquisition

RNS Number : 0264T

Bilfinger Berger Gbl Infrstre SICAV

14 November 2013

 



14 November 2013

Bilfinger Berger Global Infrastructure SICAV S.A.

("BBGI" or the "Company")

BBGI announces the completion of the acquisition of an Investment in Kelowna & Vernon Hospitals and North East Stoney Trail 

Bilfinger Berger Global Infrastructure SICAV S.A. (ticker "BBGI") is pleased to announce that it has completed the acquisition of a 50% equity and loan note interest in Kelowna & Vernon Hospitals and 100% equity and loan note interest in North East Stoney Trail.

The Kelowna & Vernon Hospitals project is a long term PPP concession contract to operate and maintain a new Patient Care Tower, a new University of British Columbia Okanagan Clinical Academic Campus and car park at Kelowna General Hospital and a new Patient Care Tower at Vernon Jubilee Hospital. These facilities are in the cities of Kelowna and Vernon in the interior of British Columbia, Canada. The project is availability-based with no volume risk.

North East Stoney Trail is a long term PPP concession contract to operate and maintain a 21km section of new highway, forming part of a larger ring road developed in Calgary, Alberta, Canada. The project is an availability-based road project with no traffic volume risk. 

The total consideration paid by BBGI is CAD $41.3m or approximately £24.8 million¹. The acquisition was funded from the Company`s existing cash resources. The Company will benefit from the distributions made on or after 1 October 2012 in the case of Kelowna & Vernon Hospitals and 1 November 2012  in the case of North East Stoney Trail.

BBGI own a portfolio of 22 infrastructure assets. These projects are operational 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).

¹ Based on an exchange rate of GBP:CAD of 1.667 as at 12 November 2013. 

For further information please contact:

BBGI Management Team       [phone]

Duncan Ball      

Frank Schramm

Maitland                                    [phone]

Liz Morley

 

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