The British Columbia Investment Management Corporation (BCI) is approaching a 50% acceptance rate for its acquisition offer of BBGI Global Infrastructure S.A.

BCI's affiliate, Bidco, has secured irrevocable commitments from BBGI's board members, holding approximately 0.4% of BBGI’s issued share capital, to accept the offer. Despite these commitments, the acceptance level remains below the required threshold to satisfy the conditions of the offer. Should the offer be declared unconditional, BBGI intends to seek the cancellation of its listing on the London Stock Exchange, which would result in reduced liquidity for the shares of non-accepting shareholders. BBGI shareholders who do not accept the offer face the risk of holding unlisted shares, potentially impacting their ability to liquidate their holdings.