Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI) has completed the acquisition of a further 50% interest in the Northern Territory Secure Facilities PPP Project (NTSF) in Australia and a further 30% equity interest in the Avon & Somerset Police HQ PPP Project in the UK.
BBGI now owns 100% of the equity interest in NTSF. The remaining interest has been acquired form Commonwealth Investments Pty Limited.
NTSF is a new 1,000 bed correctional facility, located on a greenfield site at Holtze, near Darwin, Australia. It became operational in 2014 and allows Northern Territory Corrections to engage prisoners in structured daily programs in order to foster rehabilitation and stronger re-integration. The concession term runs until June 2044. BBGI will receive availability payments during the concession period from the Northern Territory government.
The asset consists of four police buildings:
The concession term runs until March 2038. BBGI will receive availability payments during the concession period from the Avon & Somerset Police Authority.
The acquisition price for the two assets was approximately £37.3 million (US$57.8 million) and was funded from both the company's existing cash resources and drawings from the credit facility.