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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bbgi Global Infrastructure S.a. | LSE:BBGI | London | Ordinary Share | LU0686550053 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.60 | -0.46% | 129.40 | 129.20 | 129.40 | 130.00 | 129.00 | 130.00 | 817,682 | 12:34:56 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 107k | 40.29M | 0.0564 | 22.98 | 926.36M |
TIDMBBGI
RNS Number : 1054Z
BBGI SICAV S.A.
16 May 2019
16 May 2019
BBGI SICAV S.A.
(the "Company")
Acquisition of a further interest in US PPP project
BBGI SICAV S.A. (LSE ticker: BBGI), the global PPP infrastructure investment company, is pleased to announce that it has completed the acquisition of a further 33.3% equity interest in the Ohio River Bridges - East End Crossing PPP Project and now owns 66.6% of the equity in the project.
The Ohio River Bridges - East End Crossing PPP project is a large-scale availability-based infrastructure project. The fully operational project opened to the public on schedule in December 2016. The East End Crossing greatly improves connectivity, public safety and economic growth for residents, businesses and visitors in the Southern Indiana region. The centerpiece of the project is the Lewis and Clark Bridge, a twin-tower, cable-stayed bridge that stretches 760 m across the Ohio River. The asset is classified as availability-based under the investment policy of the Company and the concession runs until 2051. Availability payments are received from the Indiana Finance Authority (S&P: AA+ Moody's: Aa1).
The consideration payable by the Company for the additional interests is in-line with the Company's current valuation and will be funded from the Company's existing cash resources and drawings under its credit facility.
Duncan Ball, Co-CEO commented:
"Ohio River Bridges is now one of the largest investments in our portfolio and we are delighted to have been able to increase our holding in this high quality, stable, operational US PPP project. Having been involved in the project from construction and then into operation, we know the asset well and have been very pleased with the performance to-date. Given our existing involvement with this project, no additional management resources will be needed to oversee the incremental investment, helping to contribute to BBGI's low on-going charge"
Frank Schramm, Co-CEO added:
"The transaction increases our exposure to the USA and has a long remaining concession life of 32 years. All of the investments in our portfolio remain low risk, availability-based projects and this transaction follows our purist approach to investing in availability-based projects."
For further information, please contact:
BBGI Management Team +352 263 479-1
Duncan Ball
Frank Schramm
BBGI is a FTSE 250 Company and owns a global portfolio of 48 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 *.
The Company's LEI is: 529900CV0RWCOP5YHK95
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
May 16, 2019 02:00 ET (06:00 GMT)
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