Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI), the listed global infrastructure investment company, has announced that it has completed the acquisition of an additional 6.67% equity and subordinated debt interest in two existing operational Local Improvement Finance Trust Projects in the UK from Galliford Try Investments Limited.
The total consideration paid by BBGI was £2 million (US$3.34 million). The acquisition was funded from the company's credit facility.
The two projects are the North London Estates Project and the Liverpool and Sefton Clinics. Following this acquisition, BBGI owns more than 50% in these projects and therefore has controlling rights.
Both projects are classified as availability-based under the investment policy of the company and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.
BBGI recently completed the acquisition of 50% equity and loan note interest in four operational PPP projects in Germany from Hochtief PPP Solutions GmbH.
In March, BBGI also completed the acquisition of 37.5% of the equity and subordinated debt interests in Mersey Gateway Bridge (MGB), which is the special purpose vehicle with the delegated authority to deliver the Mersey Gateway Bridge project.
Bilfinger Berger Global Infrastructure SICAV S.A. is a closed-ended investment company. It has a portfolio of 32 infrastructure assets consisting of direct or indirect interests in investment capital in projects belonging to transport sector, justice sector, education sector, and healthcare sector. These projects are PPP / PFI assets and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.