Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI), the listed global infrastructure investment company, has announced that it has completed the acquisition of 50% equity and loan note interest in four operational PPP Projects in Germany from Hochtief PPP Solutions GmbH which currently holds 100% of the interest.
All of the projects are availability-based with no volume risk. The total consideration paid by BBGI was €13.2 million (US$21.9 million). The acquisition was funded from the company's existing cash resources. The agreement to acquire the four PPP projects was signed on August 28th between BBGI and Hochtief.
The 4 operational PPP projects in Germany are the following:
Recently, on 31 March 2014, BBGI 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 28 infrastructure assets consisting of direct or indirect interests in investment capital in projects belonging to transport sector, justice sector, education sector, and healthcare sector.